haku: @indexterm stock options / yhteensä: 242
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Tekijä:Kanagaretnam, K.
Lobo, G.J.
Mohammad, E.
Otsikko:Are stock options grants to CEOs of stagnant firms fair and justified?
Lehti:Journal of Business Ethics
2009 : NOV II, VOL. 90:1, p. 137-155
Asiasana:business ethics
corporate governance
chief executive officers
executive remuneration
stock options
Vapaa asiasana:economic determinants
pay-performance sensitivity
Tiivistelmä:Because of more recent studies show stock options grants forming the single largest component in executive compensation, this paper explores the relations of these grants to economic determinants and corporate governance for firms in the stagnant stage of their lifecycle. It is found that, on average, stock options grants make up a significant portion of annual chief executive officers' (CEO) compensation (26.4 percent) for stagnant firms. It is also found that economic (corporate governance) factors explain less (or more) of the cross-sectional variation in stock options grants for stagnant firms than for growth firms. In addition, documented is also lower pay-performance sensitivity and without improvement in future firm performance from past stock options grants to CEOs of stagnant firms.
SCIMA tietueen numero: 274844
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