haku: @author Hall, B.J. / yhteensä: 2
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| Tekijä: | Hall, B.J. Murphy, K.J. |
| Otsikko: | Stock options for undiversified executives |
| Lehti: | Journal of Accounting & Economics
2002 : FEB, VOL. 33:1, p. 3-42 |
| Asiasana: | COMPENSATION INCENTIVES RISK AVERSION STOCK OPTIONS |
| Kieli: | eng |
| Tiivistelmä: | The authors employ a certainty-equivalence framework to analyze the cost, value and pay/performance sensitivity of non-tradable options held by undiversified, risk-averse executives. The authors derive "executive value" lines, the risk-adjusted analogues to Black-Scholes lines. |
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