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| Tekijä: | Sesil, J. C. (et al.) |
| Otsikko: | Broad-based employee stock options in US "new economy" firms |
| Lehti: | British Journal of Industrial Relations
2002 : JUN, VOL. 40:2, p. 273-294 |
| Asiasana: | Stock options Manufacturing industry High technology Share incentive schemes USA |
| Kieli: | eng |
| Tiivistelmä: | The paper compares the performance of 229 'New Economy' firms offering broad-based stock options to that of their non-stock option counterparts. A simple comparison of these firms reveals that the former have higher shareholder returns, Tobin's q and ne knowledge generation. Multivariate analysis using panel data also suggests that the adaption of a stock option plan results in higher levels of value added per employee. However, the authors do not find evidence that these plans result in superiotr growth in Tobin's or new knowledge generation. |
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