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Introduction des actions gratuites en droit français et évolution des pratiques de rémunération en actions

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  • Chloé Guillot-Soulez

    () (CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine)

Abstract

Jusqu'en 2005, les entreprises françaises n'avaient le droit d'attribuer qu'une seule forme de rémunération en actions : les stock-options. Depuis 2005, elles ont le choix entre stock-options et actions gratuites. La recherche s'interroge sur les conséquences de ce changement à travers l'analyse des 800 plans introduits entre 2001 et 2011 par les entreprises du CAC40. Les résultats montrent que les actions gratuites sont entrées dans les pratiques des entreprises mais sans entraîner la disparition des stock-options dans la mesure où les deux mécanismes renvoient à des logiques d'attribution différentes.

Suggested Citation

  • Chloé Guillot-Soulez, 2013. "Introduction des actions gratuites en droit français et évolution des pratiques de rémunération en actions," Post-Print halshs-00863638, HAL.
  • Handle: RePEc:hal:journl:halshs-00863638
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00863638
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    File URL: https://halshs.archives-ouvertes.fr/halshs-00863638/document
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    References listed on IDEAS

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    1. Philippe Desbrières, 1999. "Motifs et conséquences de l'adoption des stock-options," Working Papers CREGO 0991101, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    2. Brian J. Hall & Kevin J. Murphy, 2003. "The Trouble with Stock Options," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 49-70, Summer.
    3. repec:dau:papers:123456789/2902 is not listed on IDEAS
    4. James H. Irving & Wayne R. Landsman & Bradley P. Lindsey, 2011. "The Valuation Differences Between Stock Option and Restricted Stock Grants for US Firms," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 38(3-4), pages 395-412, April.
    5. Edith Ginglinger, 2005. "Stocks options ou actions gratuites : quels effets incitatifs pour les dirigeants ?," Post-Print halshs-00162675, HAL.
    6. Brian J. Hall & Kevin J. Murphy, 2003. "The Trouble with Stock Options," NBER Working Papers 9784, National Bureau of Economic Research, Inc.
    7. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    stock-options; actions gratuites; rémunération en actions; performance boursière; CAC40;

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