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Incentive effects of stock purchase plans


  • Bhagat, Sanjai
  • Brickley, James A.
  • Lease, Ronald C.


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Suggested Citation

  • Bhagat, Sanjai & Brickley, James A. & Lease, Ronald C., 1985. "Incentive effects of stock purchase plans," Journal of Financial Economics, Elsevier, vol. 14(2), pages 195-215, June.
  • Handle: RePEc:eee:jfinec:v:14:y:1985:i:2:p:195-215

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    References listed on IDEAS

    1. Mehra, Rajnish & Prescott, Edward C., 1985. "The equity premium: A puzzle," Journal of Monetary Economics, Elsevier, vol. 15(2), pages 145-161, March.
    2. Kenneth B. Dunn & Kenneth J. Singleton, 1984. "Modeling the Term Structure of Interest Rates Under Nonseparable Utilityand Duriability of Goods," NBER Working Papers 1415, National Bureau of Economic Research, Inc.
    3. Hansen, Lars Peter & Singleton, Kenneth J, 1983. "Stochastic Consumption, Risk Aversion, and the Temporal Behavior of Asset Returns," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 249-265, April.
    4. Grossman, Sanford J. & Shiller, Robert J., 1982. "Consumption correlatedness and risk measurement in economies with non-traded assets and heterogeneous information," Journal of Financial Economics, Elsevier, vol. 10(2), pages 195-210, July.
    5. A. Sandmo, 1970. "The Effect of Uncertainty on Saving Decisions," Review of Economic Studies, Oxford University Press, vol. 37(3), pages 353-360.
    6. Hayne E. Leland, 1968. "Saving and Uncertainty: The Precautionary Demand for Saving," The Quarterly Journal of Economics, Oxford University Press, vol. 82(3), pages 465-473.
    7. Rubinstein, Mark, 1974. "An aggregation theorem for securities markets," Journal of Financial Economics, Elsevier, vol. 1(3), pages 225-244, September.
    8. Kraus, Alan & Litzenberger, Robert H, 1976. "Skewness Preference and the Valuation of Risk Assets," Journal of Finance, American Finance Association, vol. 31(4), pages 1085-1100, September.
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    Cited by:

    1. Veld, C.H., 1991. "Motives for the use of equity-warrants by Dutch companies," Research Memorandum FEW 503, Tilburg University, School of Economics and Management.
    2. Keshav Singhania & Girish, G. P., 2015. "Impact of macroeconomic events on shanghai stock exchange," Asian Journal of Empirical Research, Asian Economic and Social Society, vol. 5(6), pages 64-76, June.
    3. Grant, Simon & King, Stephen & Polak, Ben, 1996. " Information Externalities, Share-Price Based Incentives and Managerial Behaviour," Journal of Economic Surveys, Wiley Blackwell, vol. 10(1), pages 1-21, March.
    4. Ilona Babenko & Rik Sen, 2016. "Do Nonexecutive Employees Have Valuable Information? Evidence from Employee Stock Purchase Plans," Management Science, INFORMS, vol. 62(7), pages 1878-1898, July.
    5. Barkema, H.G., 1989. "An empirical test of Holmstroem's principal-agent model that takes tax and signally hypotheses explicitly into account," Research Memorandum FEW 405, Tilburg University, School of Economics and Management.
    6. Baglioni, Angelo & Colombo, Luca, 2011. "The effects of imperfect auditing on managerial compensation," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 542-548, October.
    7. John M. Abowd, 1989. "Does Performance-Based Managerial Compensation Affect Subsequent Corporate Performance?," NBER Working Papers 3149, National Bureau of Economic Research, Inc.
    8. Kato, Hideaki Kiyoshi & Lemmon, Michael & Luo, Mi & Schallheim, James, 2005. "An empirical examination of the costs and benefits of executive stock options: Evidence from Japan," Journal of Financial Economics, Elsevier, vol. 78(2), pages 435-461, November.
    9. Nam, Jouahn & Tang, Charles & Thornton, John Jr. & Wynne, Kevin, 2006. "The effect of agency costs on the value of single-segment and multi-segment firms," Journal of Corporate Finance, Elsevier, vol. 12(4), pages 761-782, September.
    10. Daya, Wael & Mazouz, Khelifa & Freeman, Mark, 2012. "Information efficiency changes following FTSE 100 index revisions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 1054-1069.

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