Ding, David K.; Chea, Ya Eem - In: Journal of risk and financial management : JRFM 14 (2021) 1/31, pp. 1-19
We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appears within a year from the first ESOP...