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Do CEOs Exercise Their Stock Options Earlier than Other Executives?

André, Paul; Boyer, M. Martin; Gagné, Robert - Centre Interuniversitaire de Recherche en Analyse des … - 2002

This paper looks at the timing chosen by CEOs to exercise their stock options and to sell their shares of stock … exercise their options and/or sell their shares, and when other top managers should. Using a tournament approach we find that … other top executives should exercise their stock options later than the CEO. We test this model using an unique data set of …

Persistent link: https://www.econbiz.de/10005100717

Testing and Comparing Value-at-Risk Measures

Christoffersen, Peter; Hahn, Jinyong; Inoue, Atsushi - Centre Interuniversitaire de Recherche en Analyse des … - 2001

implicites dans le prix des options; les VaR sont également vérifiées et comparées. …

Persistent link: https://www.econbiz.de/10005100810

Fair Value Accounting

Magnan, Michel; Thornton, Daniel B - Centre Interuniversitaire de Recherche en Analyse des … - 2009

The paper provides a genesis of fair value accounting (FVA) and reviews some research and empirical evidence that are relevant to the debate surrounding its use. We also comment on FVA's role in the financial crisis: was it just the messenger of bad news or was it procyclical, contributing to...

Persistent link: https://www.econbiz.de/10008550099

Let's Get "Real"" about Using Economic Data"

Christoffersen, Peter; Ghysels, Eric; Swanson, Norman R. - Centre Interuniversitaire de Recherche en Analyse des … - 2001

We show that using data which are properly available in real time when assessing the sensitivity of asset prices to economic news leads to different empirical findings that when data availability and timing issues are ignored. We do this by focusing on a particular example, namely Chen, Roll and...

Persistent link: https://www.econbiz.de/10005100586

Do IPOs Underperform in the Long-Run? New Evidence from the Canadian Stock Market

Kooli, Maher; L'Her, Jean-François; Suret, Jean-Marc - Centre Interuniversitaire de Recherche en Analyse des … - 2003

We measure the long-run performance of 141 Canadian IPOs between 1986 and 2000, using continuously rebalanced and purged control portfolios (size and book-to-market ratios). Results remain relatively similar irrespective of whether we use an event-time approach (buy-and-hold abnormal returns and...

Persistent link: https://www.econbiz.de/10005100847