Liljeblom, Eva; Pasternack, Daniel; Rosenberg, Matts - In: Journal of Financial Economics 102 (2011) 2, pp. 293-316
We analyze the factors that drive exercise price policy for executive option plans (ESOPs) and their scope in a country where firms are not subject to the tax and accounting considerations that seem to have led to the dominance of at-the-money options in the US Our “unbounded” data for...