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| Tekijä: | Rajgopal, S. Shevlin, T. |
| Otsikko: | Empirical evidence on the relation between stock option compensation and risk taking |
| Lehti: | Journal of Accounting & Economics
2002 : JUN, VOL. 33:2, p. 145-171 |
| Asiasana: | COMPENSATION GAS INDUSTRY HEDGING OIL INDUSTRY RISK STOCK OPTIONS |
| Kieli: | eng |
| Tiivistelmä: | The authors examine whether executive stock options (ESOs) provide managers with incentives to invest in risky projects. For a sample of oil and gas producers, the authors examine whether the coefficient of variation of future cash flows from exploration activity (their proxy for exploration risk) increases with the sensitivity of the value of the CEO's options to stock return volatility (ESO risk incentives). |
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