Broad‐based Employee Stock Options in US ‘New Economy’ Firms
作者： James C. Sesil , Maya K. Kroumova , Joseph R. Blasi , Douglas L. Kruse
关键词: Knowledge generation 、 Restricted stock 、 New economy 、 Value (economics) 、 Shareholder 、 Labour economics 、 Financial economics 、 Economics 、 Stock options 、 Panel data
摘要: This paper compares the performance of 229 `New Economy' firms offering broad-based stock options to that their non-stock option counterparts . A simple comparison these reveals former have higher shareholder returns, Tobin's q and new knowledge generation Multivariate analysis using panel data also suggests adoption a plan results in levels value added per employee However, we do not find evidence plans result superior growth or
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