haku: @indexterm Stock options / yhteensä: 242
viite: 41 / 242
| Tekijä: | Hanlon, M. Rajgopal, S. Shevlin, T. |
| Otsikko: | Are executive stock options associated with future earnings? |
| Lehti: | Journal of Accounting & Economics
2003 : DEC, VOL. 36:1-3, p. 3-43 |
| Asiasana: | compensation incentives stock options |
| Kieli: | eng |
| Tiivistelmä: | This paper estimates the relation between stock option (ESO) grants to the top five executives and future earnings to examine whether incentive alignment or rent extraction by top managers explains option granting behaviour. To understand the source of the positive payoffs, ESO grant values are parsed out into components predicted by economic determinants of option grants, governance quality and a residual grant value. The payoffs appear to be driven predominantly by the economic determinants of option grants and not poor governance quality. |
SCIMA