article is to describe alternative adjustment reactions. In this context the repricing of executive stock options under …

of firms have repriced previously granted stock options downward. While many authors argue that downward repricing is … essential to intentivize executives and to retain valuable managers, repricing also creates a potential disincentive to … the underlying factors that determine the repricing decision, and less research has been addressing the consequences from …

Purpose This paper aims to directly test the assertion by proponents of executive stock option repricing that repricing … repricing. This paper uses a more precise research design to re-examine the relationship between stock option retention and … and 201 repricing events, and a control sample of 201 non-repricing firms. They then examine executive turnover in the …

support for the view that repricing primarily reflects managerial entrenchment or ineffective governance in firms. …