Role of Out-of-Money Options in Executive Compensation

This paper examines the issuance of out-of-money executive stock options. We identify a typical option, characterize the firms that issue them and measure their effectiveness as an incentive tool. The study shows that issuance of such options does not improve the ex-post share price performance of firms.(...)

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Year of publication:	2002-04-01
Authors:	Mahajan, Shalini
Publisher:	Salomon Center <New York, NY>
Subject:	Führungskraft \| Anreiz \| Aktienoption

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Extent:	46080 bytes 19 p. application/pdf
Type of publication:	Book / Working Paper
Language:	English
Classification:	Financial theory ; Pay salaries and social benefits ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005847050