Mäkinen, Mikko - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2007
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 …