Cheung, Joe; Corrado, Charles; Chay, J. B.; Jung, Do-Sub - In: Australian Journal of Management 31 (2006) 1, pp. 29-40
Executive stock options with a rising strike price are a recent innovation in executive compensation in Australia and New Zealand. These options combine a dividend protection feature and a strike price that increases at a hurdle rate set with reference to a cost of capital estimate. With a...