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Determinants of the Adoption of Executive Stock Options in China

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  • Ming-Cheng Wu
  • Szu-Lang Liao
  • Yi-Ting Huang

Abstract

This study examines the factors that determine the adoption of stock option plans by Chinese listed firms. The results show that adoption of executive stock option plans is positively related to return on assets, market-to-book ratio, and chief executive officer duality structures, but negatively related to debt ratio and state ownership. In addition, the adoption of a stock option plan results in significantly positive cumulative abnormal returns during the three-day period following the adoption announcement date.

Suggested Citation

  • Ming-Cheng Wu & Szu-Lang Liao & Yi-Ting Huang, 2013. "Determinants of the Adoption of Executive Stock Options in China," Chinese Economy, Taylor & Francis Journals, vol. 46(4), pages 63-84, July.
    • Handle: RePEc:mes:chinec:v:46:y:2013:i:4:p:63-84
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