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Exercise behavior, valuation, and the incentive effects of employee stock options

  • Bettis, J. Carr
  • Bizjak, John M.
  • Lemmon, Michael L.
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    File URL: http://www.sciencedirect.com/science/article/B6VBX-4F6F6C9-1/2/f68612d0c1cfcb99d367bc0793f7d278
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    Article provided by Elsevier in its journal Journal of Financial Economics.

    Volume (Year): 76 (2005)
    Issue (Month): 2 (May)
    Pages: 445-470

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    Handle: RePEc:eee:jfinec:v:76:y:2005:i:2:p:445-470
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505576

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    1. Huddart, Steven, 1994. "Employee stock options," Journal of Accounting and Economics, Elsevier, vol. 18(2), pages 207-231, September.
    2. Rajesh K. Aggarwal & Andrew A. Samwick, 2003. "Performance Incentives within Firms: The Effect of Managerial Responsibility," Journal of Finance, American Finance Association, vol. 58(4), pages 1613-1650, 08.
    3. Merton, Robert C., 1971. "Optimum consumption and portfolio rules in a continuous-time model," Journal of Economic Theory, Elsevier, vol. 3(4), pages 373-413, December.
    4. Huddart, Steven & Lang, Mark, 1996. "Employee stock option exercises an empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 21(1), pages 5-43, February.
    5. Huddart, Steven & Lang, Mark, 2003. "Information distribution within firms: evidence from stock option exercises," Journal of Accounting and Economics, Elsevier, vol. 34(1-3), pages 3-31, January.
    6. Yermack, David, 1995. "Do corporations award CEO stock options effectively?," Journal of Financial Economics, Elsevier, vol. 39(2-3), pages 237-269.
    7. Jennifer N. Carpenter, 2000. "Does Option Compensation Increase Managerial Risk Appetite?," Journal of Finance, American Finance Association, vol. 55(5), pages 2311-2331, October.
    8. Brian J. Hall & Jeffrey B. Liebman, 1997. "Are CEOs Really Paid Like Bureaucrats?," NBER Working Papers 6213, National Bureau of Economic Research, Inc.
    9. Chip Heath & Steven Huddart & Mark Lang, 1999. "Psychological Factors And Stock Option Exercise," The Quarterly Journal of Economics, MIT Press, vol. 114(2), pages 601-627, May.
    10. Brian J. Hall & Kevin J. Murphy, 2000. "Stock Options for Undiversified Executives," NBER Working Papers 8052, National Bureau of Economic Research, Inc.
    11. Brian J. Hall & Thomas A. Knox, 2002. "Managing Option Fragility," NBER Working Papers 9059, National Bureau of Economic Research, Inc.
    12. Fama, Eugene F. & French, Kenneth R., 1997. "Industry costs of equity," Journal of Financial Economics, Elsevier, vol. 43(2), pages 153-193, February.
    13. Core, John & Guay, Wayne, 1999. "The use of equity grants to manage optimal equity incentive levels," Journal of Accounting and Economics, Elsevier, vol. 28(2), pages 151-184, December.
    14. Hemmer, Thomas & Matsunaga, Steve & Shevlin, Terry, 1996. "The influence of risk diversification on the early exercise of employee stock options by executive officers," Journal of Accounting and Economics, Elsevier, vol. 21(1), pages 45-68, February.
    15. Austan Goolsbee, 1997. "What Happens When You Tax the Rich? Evidence from Executive Compensation," NBER Working Papers 6333, National Bureau of Economic Research, Inc.
    16. Murphy, Kevin J., 1999. "Executive compensation," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 38, pages 2485-2563 Elsevier.
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