Elmarzougui, Abdelaziz - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2006
This paper studies the evolution and incentive effects of the stock-options allotted to the top-managers of the CAC40’s 18 large companies between 1994 and 2003. A database linked to 184 plans of stock-options is used. Three periods of analysis were considered: before, during and after the...