haku: @author Ofek, E. / yhteensä: 11
viite: 7 / 11
| Tekijä: | Ofek, E. Yermack, D. |
| Otsikko: | Taking stock: equity-based compensation and the evolution of managerial ownership |
| Lehti: | Journal of Finance
2000 : JUN, VOL. 55:3, p. 1367-1384 |
| Asiasana: | FINANCE STOCKS COMPENSATION |
| Kieli: | eng |
| Tiivistelmä: | The authors investigate the impact of stock-based compensation on managerial ownership. They find that equity compensation succeeds in increasing incentives of lower-ownership managers, but higher-ownership managers negate much of its impact by selling previously owned shares. When executives exercise options to acquire stock, nearly all of the shares are sold. The results illuminate dynamic aspects of managerial ownership arisning from divergent goals of boards of directors and managers. |
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