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The Ethics of Managerial Compensation: The Case of Executive Stock Options

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  • James Angel

    ()

  • Douglas McCabe

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File URL: http://hdl.handle.net/10.1007/s10551-006-9326-8
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Bibliographic Info

Article provided by Springer in its journal Journal of Business Ethics.

Volume (Year): 78 (2008)
Issue (Month): 1 (March)
Pages: 225-235

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Handle: RePEc:kap:jbuset:v:78:y:2008:i:1:p:225-235

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Web page: http://www.springerlink.com/link.asp?id=100281

Related research

Keywords: managerial compensation; ethics of stock options; executive pay;

References

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  1. Cuny, Charles J. & Jorion, Philippe, 1995. "Valuing executive stock options with endogenous departure," Journal of Accounting and Economics, Elsevier, vol. 20(2), pages 193-205, September.
  2. Gilson, Stuart C & Vetsuypens, Michael R, 1993. " CEO Compensation in Financially Distressed Firms: An Empirical Analysis," Journal of Finance, American Finance Association, vol. 48(2), pages 425-58, June.
  3. Ross, Stephen A., 1976. "The arbitrage theory of capital asset pricing," Journal of Economic Theory, Elsevier, vol. 13(3), pages 341-360, December.
  4. Murphy, Kevin J., 1985. "Corporate performance and managerial remuneration : An empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 11-42, April.
  5. Fama, Eugene F & French, Kenneth R, 1992. " The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-65, June.
  6. Patrick Bolton & Jose Scheinkman & Wei Xiong, 2003. "Executive Compensation and Short-termist Behavior in Speculative Markets," NBER Working Papers 9722, National Bureau of Economic Research, Inc.
  7. Grossman, Sanford J & Hart, Oliver D, 1983. "An Analysis of the Principal-Agent Problem," Econometrica, Econometric Society, vol. 51(1), pages 7-45, January.
  8. Robert Gibbons & Kevin Murphy, 1989. "Relative Performance Evaluation for Chief Executive Officers," Working Papers 628, Princeton University, Department of Economics, Industrial Relations Section..
  9. JAMES J. ANGEL & DOUGLAS M. McCABE, . "Market-Adjusted Options For Executive Compensation," Working Papers _001, Georgetown School of Business.
  10. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 225-64, April.
  11. Konan Chan & Louis K. C. Chan & Narasimhan Jegadeesh & Josef Lakonishok, 2006. "Earnings Quality and Stock Returns," The Journal of Business, University of Chicago Press, vol. 79(3), pages 1041-1082, May.
  12. Aigbe Akhigbe & Jeff Madura & Alan L. Tucker, 1996. "Market-Controlled Stock Options: A New Approach To Executive Compensation," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(1), pages 93-98.
  13. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June.
  14. John R. Deckop, 1988. "Determinants of chief executive officer compensation," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 41(2), pages 215-226, January.
  15. Huddart, Steven, 1994. "Employee stock options," Journal of Accounting and Economics, Elsevier, vol. 18(2), pages 207-231, September.
  16. Warner, Jerold B. & Watts, Ross L. & Wruck, Karen H., 1988. "Stock prices and top management changes," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 461-492, January.
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Cited by:
  1. William Marty Martin & Karen Hunt-Ahmed, 2011. "Executive compensation: the role of Shari'a compliance," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 4(3), pages 196-210, August.

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