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Market reactions to announcements to expense options

Author

Listed:
  • Larry Prather
  • Ting-Heng Chu
  • Paul Bayes

Abstract

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Suggested Citation

  • Larry Prather & Ting-Heng Chu & Paul Bayes, 2009. "Market reactions to announcements to expense options," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 33(3), pages 223-245, July.
    • Handle: RePEc:spr:jecfin:v:33:y:2009:i:3:p:223-245
    DOI: 10.1007/s12197-008-9035-5
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    References listed on IDEAS

    as
    1. Harrison Hong & Terence Lim & Jeremy C. Stein, 2000. "Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies," Journal of Finance, American Finance Association, vol. 55(1), pages 265-295, February.
    2. Scholes, Myron & Williams, Joseph, 1977. "Estimating betas from nonsynchronous data," Journal of Financial Economics, Elsevier, vol. 5(3), pages 309-327, December.
    3. Harrison, Walter Jr. & Grudnitski, Gary, 1987. "Bondholder and stockholder reactions to discretionary accounting changes," Journal of Accounting and Public Policy, Elsevier, vol. 6(2), pages 87-113.
    4. David Aboody & Mary E. Barth & Ron Kasznik, 2004. "Firms' Voluntary Recognition of Stock‐Based Compensation Expense," Journal of Accounting Research, Wiley Blackwell, vol. 42(2), pages 123-150, May.
    5. repec:bla:jfinan:v:43:y:1988:i:3:p:617-37 is not listed on IDEAS
    6. Barry, Christopher B. & Brown, Stephen J., 1984. "Differential information and the small firm effect," Journal of Financial Economics, Elsevier, vol. 13(2), pages 283-294, June.
    7. Grossman, S.J. & Miller, M.H., 1988. "Liquidity And Market Structure," Papers 88, Princeton, Department of Economics - Financial Research Center.
    8. Michael J. Brennan, 1995. "A Perspective On Accounting And Stock Prices," Journal of Applied Corporate Finance, Morgan Stanley, vol. 8(1), pages 43-53, March.
    9. Hirshleifer, David & Teoh, Siew Hong, 2003. "Limited attention, information disclosure, and financial reporting," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 337-386, December.
    10. Boehmer, Ekkehart & Masumeci, Jim & Poulsen, Annette B., 1991. "Event-study methodology under conditions of event-induced variance," Journal of Financial Economics, Elsevier, vol. 30(2), pages 253-272, December.
    11. Walther, BR, 1997. "Investor sophistication and market earnings expectations," Journal of Accounting Research, Wiley Blackwell, vol. 35(2), pages 157-179.
    12. Dimson, Elroy & Marsh, Paul, 1986. "Event study methodologies and the size effect : The case of UK press recommendations," Journal of Financial Economics, Elsevier, vol. 17(1), pages 113-142, September.
    13. Giaccotto, Carmelo & Sfiridis, James M., 1996. "Hypothesis testing in event studies: The case of variance changes," Journal of Economics and Business, Elsevier, vol. 48(4), pages 349-370, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Stock Options; Mandatory Expensing; G14; G38;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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