haku: @indexterm BUSINESS ETHICS / yhteensä: 1509
viite: 587 / 1509
| Tekijä: | Arya, A. Sun, H-L. |
| Otsikko: | Stock option repricing: Heads I win, tails you lose |
| Lehti: | Journal of Business Ethics
2004 : APR, VOL. 50:4, p. 297-312 |
| Asiasana: | Business ethics Corporate governance Compensation Executive remuneration Stock options |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the ethics and the economics of stock option repricing. A survey of empirical research reveals that repricing does not improve employee retention or firm performance. Due to weaknesses in corporate governance the current repricing practice seems to be at odds with the objective of shareholder wealth maximization and a violation of board's fiduciary duty to shareholders. The authors offer suggestions that mitigate the ethically undesirable effects of repricing in the wider context of prevailing corporate governance and regulatory environment. These suggestions are believed to transform repricing to a valuable compensation tool. |
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