Purpose – More than 80 percent of S&P 500 firms that issue ESOs use the Black-Scholes-Merton (BSM) model and substitute … overprices ESOs, which worsens as the stock's volatility increases. The purpose of this paper is to present a modification of the … grants and 1.31 billion ESOs to calculate the exercise and forfeiture parameters and value ESOs for nine firms. Findings …

difficult to link to stock market valuations and to business strategy. This paper illustrates how options theory and game theory …

intervention in foreign exchange; lending through the discount window; and, in some circumstances, may include the use of options.  …

Many legal rules can be interpreted as creating options. Option pricing is thus important for understanding the ex ante …

It can be argued that the property valuation profession has historically relied upon uniformity as the basis of all … but most other terms remained constant. Rental valuation could therefore be made by direct comparison on a pro‐rata basis …. Similarly, capital valuation would be made either by direct capital comparison, or by reference to a comparable rent and yield …

Purpose – In this paper, the authors aim to test the assertion that options act as a substitute for short sales by … ability of options to alleviate the short sales constraint directly – in an environment where the constraint is likely to … for options listing, and whether those criteria differ from those found using purely domestic options, is addressed using …