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Remuneración de directivos mediante opciones sobre acciones: Aspectos económicos y éticos

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  • Argandoña, Antonio

    (IESE Business School)

Abstract

La remuneración de directivos mediante opciones sobre acciones («stock options») se ha convertido en una práctica cada vez más frecuente, que ha levantado polémicas de naturaleza económica y también ética. En este documento se explican los caracteres de las opciones sobre acciones, su utilización en los planes de captación, retención y motivación de directivos y los efectos esperados de las mismas, incluyendo algunas consideraciones sobre aspectos de carácter ético, como la licitud del objetivo de las «stock options» (la maximización del valor de las acciones) y los problemas de justicia que se presentan cuando, en fases expansivas del mercado de capitales, los directivos reciben remuneraciones muy elevadas gracias a dichas opciones.

Suggested Citation

  • Argandoña, Antonio, 2000. "Remuneración de directivos mediante opciones sobre acciones: Aspectos económicos y éticos," IESE Research Papers D/411, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-0411
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