Williams, Melissa A.; Michael, Timothy B.; Rao, Ramesh P. - In: Managerial Finance 34 (2008) 5, pp. 316-327
Purpose – The purpose of this paper is to examine the risk‐incentive effect of CEO stock options in the banking industry. Design/methodology/approach – For a sample of industrial mergers, Williams and Rao find that the risk‐incentive effect of CEO stock options is associated with higher...
