Abudy, Menachem; Benninga, Simon - In: International Journal of Managerial Finance 7 (2011) February, pp. 9-37
Purpose – This paper aims to derive firm value implications for various kinds of employee stock options (ESOs) in a framework that considers uncertainty, non-diversification and the US statutory tax treatment. Design/methodology/approach – The authors extend the analysis of ESOs from the...
