摘要: Abstract Ittner, Lambert, and Larcker (J. Accounting Economics (2003) this issue) present compelling evidence that new economy firms rely more on stock-based compensation than do old firms, based 1998 1999 data from a proprietary sample of companies. I complement the ILL results by analyzing over longer time period (1992–2001) and, importantly, document effect 2000 market crash pay in firms. Finally, offer supporting conjecture differences practices between reflect accounting considerations, perceived costs, competitive inertia.
unirioja.es
socionet.ru
elsevier.com参考文章(16)
Kevin J. Murphy, Explaining Executive Compensation: Managerial Power versus the Perceived Cost of Stock Options The University of Chicago Law Review. ,vol. 69, pp. 847- 870 ,(2002) , 10.2307/1600633
Clifford W. Smith, Ross L. Watts, The investment opportunity set and corporate financing, dividend, and compensation policies☆ Journal of Financial Economics. ,vol. 32, pp. 263- 292 ,(1992) , 10.1016/0304-405X(92)90029-W
P.Jane Saly, Repricing executive stock opition in a down market Journal of Accounting and Economics. ,vol. 18, pp. 325- 356 ,(1994) , 10.1016/0165-4101(94)90025-6
John M Bizjak, James A Brickley, Jeffrey L Coles, Stock-based incentive compensation and investment behavior Journal of Accounting and Economics. ,vol. 16, pp. 349- 372 ,(1993) , 10.1016/0165-4101(93)90017-A
Richard A. Lamber, David F. Larcker, Robert E. Verrecchia, Portfolio Considerations in Valuing Executive Compensation Journal of Accounting Research. ,vol. 29, pp. 129- 149 ,(1991) , 10.2307/2491032
Fischer Black, Myron Scholes, The Pricing of Options and Corporate Liabilities Journal of Political Economy. ,vol. 81, pp. 637- 654 ,(1973) , 10.1086/260062
Mark C. Anderson, Rajiv D. Banker, Sury Ravindran, Executive Compensation in the Information Technology Industry Management Science. ,vol. 46, pp. 530- 547 ,(2000) , 10.1287/MNSC.46.4.530.12055
Stacey R. Kole, The complexity of compensation contracts Journal of Financial Economics. ,vol. 43, pp. 79- 104 ,(1997) , 10.1016/S0304-405X(96)00888-4
Lisa K. Meulbroek, The Efficiency of Equity-Linked Compensation: Understanding the Full Cost of Awarding Executive Stock Options Financial Management. ,vol. 30, pp. 5- ,(2001) , 10.2307/3666404
Brian J. Hall, Kevin J. Murphy, Stock options for undiversified executives Journal of Accounting and Economics. ,vol. 33, pp. 3- 42 ,(2002) , 10.1016/S0165-4101(01)00050-7