Gérard Hirigoyen Thierry Poulain-Rehm (Université de Bordeaux 4)
Abstract
This study investigates whether quoted family firms present particularities in stock options policy, in France. This research, which suggests a definition of family firms, is based on the analysis of the Bulletin des Annonces Légales Obligatoires and on a survey of 61 firms (24 family-controlled and 37 non-family-controlled firms). The results are am-biguous:while many family firms grant employee stock options, their policies are generally selective. Moreover, even if family-controlled firms look for participative management with stock options, the effects in terms of incentive implications and development of loyalty are contradictory. The results show that family and non-family-controlled firms have the same conduct as regard to stock options.
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Volume (Year): 3 (2000) Issue (Month): 1 (March) Pages: 139-167 Download reference. The following formats are available: HTML
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