Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 24 for “"stock option"”.
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Stock Option Returns, a Puzzle
… the expected returns of European call options must be positive and increasing in the strike price. This paper investigates the returns to call options on individual stocks that do not have an ex-dividend day prior to expiration. The main findings are that over the 1996 to 2005 period …
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Stock Option Valuations and Constraint Enforcement Using Neural Networks
Stock option valuations have long been studied, being inherently non-linear financial derivatives. These instruments have a ubiquitous presence in institutional investment practice, and present many favourable and unique benefits to an investment portfolio. Neural Networks on the other hand have …
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Employee Stock Option Valuation with Earnings-Based Vesting Condition
The valuation of employee stock options has become a key requirement due to the rapid growth in the use of these options as a means of employee compensation. IFRS 2 Share-based Payment stipulates that these instruments must be valued and expensed on the date the awards are issued. This dissertation …
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Stock Option Valuation for Thinly Traded Enterprises: Comparing the Historically Based Intrinsic Value Model to the Black-Scholes-Merton Model
… reporting is often affected by the valuation of stock options. For large, regularly traded companies, the valuation of stock options isn't an issue because these companies have valuation data for publicly traded options. For thinly traded, highly volatile companies, the issue of establishing a …
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Akcijų opcionas kaip darbuotojų skatinimo priemonė /
The essential purpose of the employee stock option which is defined as a right to purchase shares in future is motivation of employees. The aforementioned purpose is of great importance when legally qualifying the stock option. The main features of the stock option unfold the nature of the stock …
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CEO Equity-Based Incentives And Managerial Opportunism Behavior
… In particular, this study seeks to examine CEO stock-based incentives and managerial opportunism behavior for the sample of CEOs of firms announcing layoffs during 1997-2006. I investigate two issues. First, I measure the extent of CEO stock selling in the year of the announcement of employee …
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THE EMERGENCE AND CONSEQUENCES OF STOCK-BASED COMPENSATION IN THE CONTEMPORARY FIRM: AN INSTITUTIONAL APPROACH TO THE ORGANIZATIONAL FOUNDATIONS OF INEQUALITY
… papers, I examine the institutionalization of stock-based compensation practices in the contemporary global economy and the implications of these practices for broader patterns of income and wealth inequality. The first paper connects recent theories of managerial power to neoinstitutional …
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Relative valuation of alternative methods of tax avoidance
… suggest that tax avoidance resulting from stock option tax benefits is positively associated with firm value, accelerated depreciation is not associated with firm value and deferral of residual tax on foreign earnings is negatively associated with firm value. Prior studies that find the …
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Utility-based valuation for underwater employee stock options
… the theory behind utility-based valuation of stock options. In particular, we focus on the underwater employee stock options, which give rise to an incomplete-market setting. We begin with basic concepts and terminology in stock-option pricing. Then, we review the valuation by replication …
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Taking the wrong road in the capital/revenue enquiry: the controversial case of the share incentive trust
… Incentive Trust During the boom years of the stock exchange in the late 1960's, the idea of providing a tax-free employment fringe benefit for corporate employees by the use of stock option plans gained widespread popularity. 3 Key management staff were granted options to purchase shares in …
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INCOME SHIFTING AMONG OPTION INTENSIVE FIRMS IN THE 1990'S
… This study will examine the behavior of option intensive corporations during the late 1990's. Coinciding with the longest recorded economic expansion in the history of the United States and coupled with the so-called "internet bubble" during the second half of the decade, this period of …
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The corporate governance structure and corporate performance: empirical studies of China's listed real estate companies
… own tiny or no equity stake of the company. Stock option is not adopted in China's listed real estate companies. Manager's compensation is not associated with the firm's performance, but is associated with firm size and the turnovers of chairmen and top managers. The study also discusses the …
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Essays on Volatility Risk and Security Returns
… studies the determinants of expected option returns and equilibrium determinants of variance risk and the variance risk premium. In the first essay, I analyze the relation between expected option returns and the volatility of the underlying securities. In the Black-Scholes-Merton and …
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Essays in empirical corporate finance and investment
… whether Earnings Per Share (EPS) dilution due to options exercises causes firms to manage earnings in Chapter 2, whether having a high level of institutional ownership mitigates the problem of conducting repurchases through Accelerated Share Repurchases (ASR) for the purposes of EPS manipulation …
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Civiliniai susitarimai tarp darbo santykių šalių /
… met in order to make this agreement valid. The stock option contract is a motivation tool for an employee, though this institution is not widely applied in Lithuania. However, the situation can change radically, if the legislator adopts the currently proposed amendments to the Law on Companies …
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Essays on the financial behavior of corporations and households
… The first essay investigates what role employee stock options and CEO compensation have in explaining the surge in corporate share repurchases in the mid 1990s. Corporations may opt to fund options with repurchased shares to avoid the immediate dilution of earnings per share. Whether the top …
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An Analysis of the Effect of Compensation Offerings on the Turnover Intentions of Restaurant Managing Partners for Outback Steakhouse
… two variables, deferred compensation and stock option, explained 41.7% of the sample variation (R² = .417) and 39.8% of the population variation (Adjusted R² = .398).
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An investigation into recent developments in employee incentive schemes used by companies listed on the Johannesburg Stock Exchange
… was an explosion in the issuance of employee stock options. This served several purposes, namely - to motivate managers, in the pursuit to increase company value and achieve long-term goals as a retention tool for talented staff and also as a way for cash strapped young companies to reward …
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The Effect of Audit Committee Compensation on the Procurement of Non-audit Services
… examines how cash and equity-based compensation (stock awards, and stock options) influence audit committee members’ decision to purchase NAS from the external auditor. The analyses show that compensating audit committee members with cash is associated with fewer purchases of NAS. Stock option …
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