The Impact of Employee Stock Option Adoption and Incidence on Productivity: Evidence from US Panel Data

被引：13
|
作者：
Sesil, James C. [1 ]
Lin, Yu Peng [2 ]
机构：
[1] City Univ Hong Kong, Dept Management, Kowloon Tong, Hong Kong, Peoples R China
[2] Texas A&M Univ, Dept Econ & Finance, Kingsville, TX USA
来源：
INDUSTRIAL RELATIONS | 2011年 / 50卷 / 03期
关键词：
COSTS; PLANS;
D O I：
10.1111/j.1468-232X.2011.00648.x
中图分类号：
F24 [劳动经济];
学科分类号：
020106 ; 020207 ; 1202 ; 120202 ;
摘要：
This paper examines the productivity effect of broad-based and executive stock option programs in adoption year and five subsequent years. The findings include a positive impact on productivity, which is maintained over a five-year period after adoption for executive plans but diminishes immediately for broad-based plans. We interpret these findings as evidence of stock option usage being of benefit to organizations. However, to sustain the impact of broad-based plans options, grants may need to be made with the same frequency as executive option grants.
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页码：514 / 534
页数：21
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