second essay presents empirical evidence on the productivity impacts of stock option schemes. It shows that when endogeneity … firm productivity. The finding is consistent with the hypotheses that predict negligible effects of option plans on firm … performance. The third essay studies whether, instead of productivity, option schemes affect firm technical inefficiency. The …

positive association between option schemes and firm productivity. However, existing data are limited and may not enable … reliable investigation of the productivity effects of different types of option scheme. New panel data for all Finnish publicly … consistently find statistically insignificant associations with firm productivity. For selective option schemes, the baseline fixed …

population and almost 50% of the survey respondents. To study how HRM practices affect the level of firm productivity, we first … positive association with the HRM practices and the level of firm productivity. Perhaps more importantly, however, we find that … not all forms of employee financial and decision-making participation practices have favorable productivity effects …