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Employee stock options: exercise decisions by top executives

Anderson, Mark C. - In: Managerial Finance 25 (1999) 10, pp. 50-60

Reviews previous research on the timing of employee stock option exercise decisions and share price performance before and after insider trading. Analyses the 1992‐1993 exercise behaviour of top executives at 65 large US firms using the Black‐Scholes (1973) value (less anticipated dividends)...

Persistent link: https://www.econbiz.de/10014940402

Incentive structure of CEO stock option pay and stock ownership: the moderating effects of firm risk

Gerard Sanders, Wm. - In: Managerial Finance 25 (1999) 10, pp. 61-75

Outlines previous research on the role of executive compensation contracts in reducing conflicts of interest between ownership and control; and develops hypotheses on the effects of chief executive officer stock options and share ownership on subsequent firm performance. Suggests that since...

Persistent link: https://www.econbiz.de/10014940403

Executive long‐term performance contracts: an empirical analysis of market risk, investment opportunities and leverage in the post‐adoption period

Vogel, Thomas J.; McGinnis, John D. - In: Managerial Finance 25 (1999) 10, pp. 76-93

Reviews previous research on agency theory, the use of long‐term performance plans to align the interests of managers and shareholders, and the effect of these plans on firm performance. Uses data from a sample of 29 US companies adopting/changing long‐term performance plans and a matched...

Persistent link: https://www.econbiz.de/10014940404

Multinationality, profitability and firm value

AlNajjar, Fouad K.; Riahi‐Belkaoui, Ahmed - In: Managerial Finance 25 (1999) 12, pp. 31-41

Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development. Tests these models on 1987‐1992 US data and compares them with predictions based on current return on equity....

Persistent link: https://www.econbiz.de/10014940412

An empirical investigation of conservatism in book value measurement

Bauman, Mark P. - In: Managerial Finance 25 (1999) 12, pp. 42-57

Outlines the role of the conservatism inherent in generally accepted accounting principles in Ohlson’s (1995) and Feltham and Ohlson’s (1995) valuation models and compares it with other research findings. Identifies potential sources of conservatism (e.g. expensing advertising costs,...

Persistent link: https://www.econbiz.de/10014940413

The substitution of net value added for earnings in equity valuation

Riahi‐Belkaoui, Ahmed; Picur, Ronald D. - In: Managerial Finance 25 (1999) 12, pp. 66-78

Outlines the valuation models of Ohlson (1995) and Feltham and Ohlson (1995), which relate share prices to accounting data, and develops a version which substitutes net value added for earnings. Tests it on 1978‐1995 US data and shows that it is better than the conventional model at explaining...

Persistent link: https://www.econbiz.de/10014940415

Economic sanctions: obstruction or instrument for world trade?

Ali, Abbis J.; Camp, Robert C. - In: Managerial Finance 25 (1999) 3/4, pp. 66-75

Relates Adam Smith’s invisible hand to present day globalization and considers the impact of US trade and economic sanctions on the world economy. Discusses the political roots of these sanctions, their objectives (both overt and covert), costs and incompatibility with free trade. Puts forward...

Persistent link: https://www.econbiz.de/10014940417

The role of interest groups in products liability law

Gedde, David S.; Brahmasrene, Tantatape - In: Managerial Finance 25 (1999) 3/4, pp. 76-89

Describes the impact of recent changes in US tort law and identifies four interest groups concerned: manufacturers, insurance companies, consumers and lawyers. Discusses their relative strengths, motivations and influence on judicial decisions, citing relevant liability cases for...

Persistent link: https://www.econbiz.de/10014940418

U.S. oil company stock returns and currency fluctuations

Mollick, Andre; Nguyen, Khoa H - In: Managerial Finance 41 (2015) 9, pp. 974-994

Purpose – The purpose of this is paper is to pay a closer look at the 2008-2009 financial crisis (and its aftermath) and analyzes stock returns of nine major US oil companies as well as the oil and gas sector under daily data from January 1992 to April 2012. Design/methodology/approach – The...

Persistent link: https://www.econbiz.de/10014941202

U.S. highway public private partnerships

Daito, Nobuhiko; Gifford, Jonathan L. - In: Managerial Finance 40 (2014) 11, pp. 1131-1151

, has been increasing in the USA. The purpose of this paper is to empirically evaluate the difference of P3s and non-P3 … – Controlling for various project characteristics, the P3 highway projects in the USA showed higher initial costs than non-P3 … analyses of the performance of highway P3s in the USA. Also, this is one of the first studies to employ frontier analysis …

Persistent link: https://www.econbiz.de/10014941275