The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
The use of equity grants to manage optimal equity incentive levels
Open accessAbstract
We predict and find that firms use annual grants of options and restricted stock to CEOs to manage the optimal level of equity incentives. We model optimal equity incentive levels for CEOs, and use the residuals from this model to measure deviations between CEOs’ holdings of equity incentives and optimal levels. We find that grants of new incentives from options and restricted stock are negatively related to these deviations. Overall, our evidence suggests that firms set optimal equity incentive levels and grant new equity incentives in a manner that is consistent with economic theory.
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Cites
The pricing of options and corporate liabilities
Black, F., & Scholes, M. (1973) · Journal of Political Economy · doi:10.1086/260062 · Cited by 29,074
Sample Selection Bias as a Specification Error
Heckman, J. J. (1979) · Econometrica · doi:10.2307/1912352 · Cited by 28,779
Cited by
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Self-citationAgency Problems of Corporate Philanthropy
Masulis, R. W., & Reza, S. W. (2015) · Review of Financial Studies · doi:10.1093/rfs/hhu082 · Cited by 1,020
Role of Managerial Incentives and Discretion in Hedge Fund Performance
AGARWAL, V., DANIEL, N. D., & NAIK, N. Y. (2009) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01499.x · Cited by 688
The Business Value of IT: A Synthesis and Framework of Archival Research
Masli, A., Richardson, V. J., Sanchez, J. M., & Smith, R. E. (2011) · Journal of Information Systems · doi:10.2308/isys-10117 · Cited by 98
A Longitudinal Examination of Enterprise Resource Planning System Post-Implementation Enhancements
Cao, J., Nicolaou, A. I., & Bhattacharya, S. (2013) · Journal of Information Systems · doi:10.2308/isys-50398 · Cited by 29
Metadata
- Authors
- Core, J., & Guay, W.
- Venue
- Journal of Accounting and Economics
- Publisher
- Elsevier BV
- Published
- 1999-12
- Volume
- 28
- Issue
- 2
- Pages
- 151-184
- ISSN
- 0165-4101 (ISSN-L)
- OpenAlex
- W3124737373
- Cited by
- 1,456
- References
- 2
- FWCI
- 84.95
- Type
- journal article
- Language
- en
- Open access
- hybrid
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