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Please use this identifier to cite or link to this item: https://doi.org/10.1109/MWC.2006.1593521
DC FieldValue
dc.titleAgency costs and management contracting: Granting executive stock options as a strategic compensation practice?
dc.contributor.authorLam, S.-S.
dc.contributor.authorHo, Y.-K.
dc.date.accessioned2013-10-09T08:22:00Z
dc.date.available2013-10-09T08:22:00Z
dc.date.issued2006
dc.identifier.citationLam, S.-S., Ho, Y.-K. (2006). Agency costs and management contracting: Granting executive stock options as a strategic compensation practice?. International Journal of Human Resources Development and Management 1 (1) : 22-47. ScholarBank@NUS Repository. https://doi.org/10.1109/MWC.2006.1593521
dc.identifier.issn14656612
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/44489
dc.description.abstractThis is an exploratory study on the characteristics and performance of firms that choose to grant executive stock options as a strategic compensation practice. According to the push theory of employee ownership, stock options are granted to push employees to create superior financial performance. We find that firms which grant executive stock options offer persistent abnormal firm performance. Firms that grant stock options in lieu of cash compensation do not perform differently in the long run from those that grant stock options as incentives. This finding is consistent with the proposition that the motivation for the use of executive stock options is endogenously determined for any firm given its investment opportunities and technology, risk characteristics and growth options. Copyright © 2006 Inderscience Enterprises Ltd.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1109/MWC.2006.1593521
dc.sourceScopus
dc.subjectAgency costs
dc.subjectCash compensation
dc.subjectExecutive stock options
dc.subjectFirm characteristics
dc.subjectIncentives
dc.subjectManagement contracting
dc.typeArticle
dc.contributor.departmentFINANCE & ACCOUNTING
dc.description.doi10.1109/MWC.2006.1593521
dc.description.sourcetitleInternational Journal of Human Resources Development and Management
dc.description.volume1
dc.description.issue1
dc.description.page22-47
dc.identifier.isiut000235575300005
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