Ding, David K.; Chea, Ya Eem - In: Journal of risk and financial management : JRFM 14 (2021) 1/31, pp. 1-19
We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find … improvement persists for four years after the first issuance. These findings confirm the effectiveness of employee stock option … plans for companies issuing ESOPs compared with companies that do not issue ESOPs, and show how much the value creation of …
