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The paper introduces status as re ecting an agent's claim to recognition in her work. It is a scarce resource: increasing an agent's status requires that another agent's status is decreased. Higher status agents are more willing to exert e ort in exchange for money; better-paid agents would...
Persistent link: https://www.econbiz.de/10010734929
Probability weighting is one of the cornerstones of decision-making theories accommodating gambling preferences. This paper examines its relevance to explaining employee stock option exercise behavior. We characterized the optimal exercise policy for a representative employee with Rank-Dependent...
Persistent link: https://www.econbiz.de/10011124179
This research provides an alternative framework for the analysis of employee stock option exercise patterns. It develops a binomial model where the exercise decision obeys to a policy that maximizes the expected utility to a representative employee exhibiting preferences as described by the...
Persistent link: https://www.econbiz.de/10010783740
This research provides an alternative framework for the valuation of standard employee stock options and for the analysis of exercise behavior patterns. It develops a binomial model where the exercise decision obeys to a policy that maximizes the expected utility to a representative employee...
Persistent link: https://www.econbiz.de/10010783761
Information risk – the uncertainty regarding the parameters of the distribution of firms’ future cash flows – generates valuation errors and is costly to investors who require a higher return to compensate for greater information risk. We argue that, on average, through their...
Persistent link: https://www.econbiz.de/10011122227
Persistent link: https://www.econbiz.de/10010905290
Comment faire un diagnostic financier à partir de l'information publiquement disponible ? La réponse relève d'abord des outils de l'analyse financière: soldes intermédiaires, tableaux de financement, ratios, etc. Cet ouvrage explique comment construire ces outils à l'aide de la liasse...
Persistent link: https://www.econbiz.de/10011072588
Abstract: Motivated by the recent works by Lev [2001b ; 2004] and the current debate surrounding the international financial reporting standard n°38 (i.e. IAS 38) adoption related to reported intangible investment issues, this study investigates whether European firms using national generally...
Persistent link: https://www.econbiz.de/10011072663
The longitudinal study of 13 investment decisions in the French aluminium industry, from 1890 to 1990, offers a new outlook for the risk evaluation in investment choice. Measurement tools form the main development in investment literature. However, they must be considered in a larger context...
Persistent link: https://www.econbiz.de/10011073128
This article aims at highlighting the issue of recognition and valuation of assets in the relationship between earnings management and financing choices. This issue has been addressed from a historical approach. The use of history is justified by the characteristics of the period: opening...
Persistent link: https://www.econbiz.de/10011073301