메뉴 건너뛰기




Volumn 36, Issue 1-3 SPEC. ISS., 2003, Pages 3-43

Are executive stock options associated with future earnings?

Author keywords

Incentive alignment; Management compensation; Rent extraction; Stock options

Indexed keywords


EID: 0742269362     PISSN: 01654101     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jacceco.2003.10.008     Document Type: Article
Times cited : (289)

References (80)
  • 1
    • 0030215162 scopus 로고    scopus 로고
    • Market valuation of employee stock options
    • Aboody D. Market valuation of employee stock options Journal of Accounting and Economics 22 1996 357-391
    • (1996) Journal of Accounting and Economics , vol.22 , pp. 357-391
    • Aboody, D.1
  • 2
    • 0002854219 scopus 로고    scopus 로고
    • CEO stock option awards and the timing of corporate voluntary disclosures
    • Aboody D. Kasznik R. CEO stock option awards and the timing of corporate voluntary disclosures Journal of Accounting and Economics 29 2000 73-100
    • (2000) Journal of Accounting and Economics , vol.29 , pp. 73-100
    • Aboody, D.1    Kasznik, R.2
  • 3
    • 0742329270 scopus 로고    scopus 로고
    • SFAS 123 stock-based compensation expense and equity market values
    • in press
    • Aboody, D., Barth, M., Kasznik, R., 2004. SFAS 123 stock-based compensation expense and equity market values. The Accounting Review 79 (2), in press.i
    • (2004) The Accounting Review , vol.79 , Issue.2
    • Aboody, D.1    Barth, M.2    Kasznik, R.3
  • 4
    • 84934453999 scopus 로고
    • Does performance-based managerial compensation affect corporate performance?
    • Abowd J.M. Does performance-based managerial compensation affect corporate performance? Industrial and Labor Relations Review 43 1990 52S 73S
    • (1990) Industrial and Labor Relations Review , vol.43
    • Abowd, J.M.1
  • 5
    • 0012465797 scopus 로고    scopus 로고
    • Executive compensation: Six questions that need answering
    • Abowd J.M. Kaplan D.S. Executive compensation: six questions that need answering Journal of Economic Perspectives 13 1999 145-168
    • (1999) Journal of Economic Perspectives , vol.13 , pp. 145-168
    • Abowd, J.M.1    Kaplan, D.S.2
  • 6
    • 37149031718 scopus 로고    scopus 로고
    • What do boards do? Evidence from committee meeting and director compensation
    • Working Paper, Federal Reserve Bank of New York
    • Adams, R.B., 2000. What do boards do? Evidence from committee meeting and director compensation. Working Paper, Federal Reserve Bank of New York.
    • (2000)
    • Adams, R.B.1
  • 8
    • 84977726267 scopus 로고
    • Compensation and incentives: Practice versus theory
    • Baker G.P. Jensen M.C. Murphy K.J. Compensation and incentives: practice versus theory Journal of Finance 43 1988 593-616
    • (1988) Journal of Finance , vol.43 , pp. 593-616
    • Baker, G.P.1    Jensen, M.C.2    Murphy, K.J.3
  • 9
    • 0030194534 scopus 로고    scopus 로고
    • Detecting abnormal operating performance: The empirical power and specification of test statistics
    • Barber B. Lyon J. Detecting abnormal operating performance: the empirical power and specification of test statistics Journal of Financial Economics 41 1996 359-399
    • (1996) Journal of Financial Economics , vol.41 , pp. 359-399
    • Barber, B.1    Lyon, J.2
  • 10
    • 0036599832 scopus 로고    scopus 로고
    • Managerial power and rent extraction in the design of executive compensation, University of Chicago
    • Bebchuk L.A. Fried J.M. Walker D.I. Managerial power and rent extraction in the design of executive compensation, University of Chicago Law Review 69 2002 751-846
    • (2002) Law Review , vol.69 , pp. 751-846
    • Bebchuk, L.A.1    Fried, J.M.2    Walker, D.I.3
  • 11
    • 0036807059 scopus 로고    scopus 로고
    • The valuation implications of computer stock option accounting for profitable computer software firms
    • Bell T. Landsman W. Miller B. Yeh S. The valuation implications of computer stock option accounting for profitable computer software firms The Accounting Review 77 4 2002 971-996
    • (2002) The Accounting Review , vol.77 , Issue.4 , pp. 971-996
    • Bell, T.1    Landsman, W.2    Miller, B.3    Yeh, S.4
  • 13
    • 0036591182 scopus 로고    scopus 로고
    • Real investment implications of employee stock option exercises
    • Bens D. Nagar V. Wong F. Real investment implications of employee stock option exercises Journal of Accounting Research (Supplement) 40 2002 359-393
    • (2002) Journal of Accounting Research , vol.40 , Issue.SUPPL. , pp. 359-393
    • Bens, D.1    Nagar, V.2    Wong, F.3
  • 15
    • 0039784061 scopus 로고    scopus 로고
    • Are ceos rewarded for luck? The ones without principals are
    • Bertrand M. Mullainathan S. Are ceos rewarded for luck? the ones without principals are Quarterly Journal of Economics 116 3 2001 901-932
    • (2001) Quarterly Journal of Economics , vol.116 , Issue.3 , pp. 901-932
    • Bertrand, M.1    Mullainathan, S.2
  • 17
    • 0040212860 scopus 로고    scopus 로고
    • CEO stock-based compensation: An empirical analysis of incentive-intensity, relative mix, and economic determinants
    • Bryan S. Hwang L. Lilien S. CEO stock-based compensation: an empirical analysis of incentive-intensity, relative mix, and economic determinants Journal of Business 73 2000 661-693
    • (2000) Journal of Business , vol.73 , pp. 661-693
    • Bryan, S.1    Hwang, L.2    Lilien, S.3
  • 18
    • 18044404846 scopus 로고    scopus 로고
    • Executive stock option exercises and inside information
    • Carpenter J. Remmers B. Executive stock option exercises and inside information Journal of Business 74 2001 513-534
    • (2001) Journal of Business , vol.74 , pp. 513-534
    • Carpenter, J.1    Remmers, B.2
  • 19
    • 0011315488 scopus 로고    scopus 로고
    • The effectiveness of SFAS 123 employee option cost disclosures
    • Working Paper, Santa Clara University
    • Chamberlain, S., Hsieh, S., 1999. The effectiveness of SFAS 123 employee option cost disclosures. Working Paper, Santa Clara University.
    • (1999)
    • Chamberlain, S.1    Hsieh, S.2
  • 20
    • 0010019475 scopus 로고    scopus 로고
    • The stock market valuation of research and development expenditures
    • Chan K. Lakonishok J. Sougiannis T. The stock market valuation of research and development expenditures The Journal of Finance 56 2001 2431-2456
    • (2001) The Journal of Finance , vol.56 , pp. 2431-2456
    • Chan, K.1    Lakonishok, J.2    Sougiannis, T.3
  • 22
    • 0001245231 scopus 로고    scopus 로고
    • The use of equity grants to manage optimal equity incentive levels
    • Core J. Guay W. The use of equity grants to manage optimal equity incentive levels Journal of Accounting and Economics 28 1999 151-184
    • (1999) Journal of Accounting and Economics , vol.28 , pp. 151-184
    • Core, J.1    Guay, W.2
  • 23
    • 0036017572 scopus 로고    scopus 로고
    • Estimating the value of employee stock option portfolios and their sensitivities to price and volatility
    • Core J. Guay W. Estimating the value of employee stock option portfolios and their sensitivities to price and volatility Journal of Accounting Research 40 2002 613-630
    • (2002) Journal of Accounting Research , vol.40 , pp. 613-630
    • Core, J.1    Guay, W.2
  • 24
    • 0012533538 scopus 로고    scopus 로고
    • Executive equity compensation and incentives: A survey
    • Core J. Guay W. Larcker D. Executive equity compensation and incentives: a survey Economic Policy Review 9 2003 27-50
    • (2003) Economic Policy Review , vol.9 , pp. 27-50
    • Core, J.1    Guay, W.2    Larcker, D.3
  • 25
    • 0001650996 scopus 로고    scopus 로고
    • Corporate governance, chief executive officer compensation, and firm performance
    • Core J. Holthausen R. Larcker D. Corporate governance, chief executive officer compensation, and firm performance Journal of Financial Economics 51 1999 371-406
    • (1999) Journal of Financial Economics , vol.51 , pp. 371-406
    • Core, J.1    Holthausen, R.2    Larcker, D.3
  • 26
    • 0035995640 scopus 로고    scopus 로고
    • The economic dilution of employee stock options: Diluted EPS for valuation and financial reporting
    • Core J. Guay W. Kothari S.P. The economic dilution of employee stock options: diluted EPS for valuation and financial reporting The Accounting Review 77 3 2002 627-652
    • (2002) The Accounting Review , vol.77 , Issue.3 , pp. 627-652
    • Core, J.1    Guay, W.2    Kothari, S.P.3
  • 28
    • 44949280589 scopus 로고    scopus 로고
    • Executive incentives and the horizon problem: An empirical investigation
    • Dechow P. Hutton A. Sloan R. Executive incentives and the horizon problem: an empirical investigation Journal of Accounting and Economics 14 1996 51-89
    • (1996) Journal of Accounting and Economics , vol.14 , pp. 51-89
    • Dechow, P.1    Hutton, A.2    Sloan, R.3
  • 29
    • 0002366336 scopus 로고
    • The association between executive stock option plan changes and managerial decision making
    • Defusco R. Zorn T.S. Johnson R.R. The association between executive stock option plan changes and managerial decision making Financial Management 20 1991 36-43
    • (1991) Financial Management , vol.20 , pp. 36-43
    • Defusco, R.1    Zorn, T.S.2    Johnson, R.R.3
  • 30
    • 84935941592 scopus 로고
    • The structure of corporate ownership: Causes and consequences
    • Demsetz H. Lehn K. The structure of corporate ownership: causes and consequences Journal of Political Economy 93 6 1985 1155-1177
    • (1985) Journal of Political Economy , vol.93 , Issue.6 , pp. 1155-1177
    • Demsetz, H.1    Lehn, K.2
  • 31
    • 0033235098 scopus 로고    scopus 로고
    • Have financial statements lost their relevance?
    • Francis J. Schipper K. Have financial statements lost their relevance? Journal of Accounting Research 37 2 1999 319-352
    • (1999) Journal of Accounting Research , vol.37 , Issue.2 , pp. 319-352
    • Francis, J.1    Schipper, K.2
  • 32
    • 43949176471 scopus 로고
    • Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies
    • Gaver J. Gaver K. Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies Journal of Accounting and Economics 16 1993 125-160
    • (1993) Journal of Accounting and Economics , vol.16 , pp. 125-160
    • Gaver, J.1    Gaver, K.2
  • 33
    • 0013298253 scopus 로고    scopus 로고
    • Corporate governance and stock prices
    • NBER working Paper 8449
    • Gompers, P., Ishii, J., Metrick, A., 2001. Corporate governance and stock prices. NBER working Paper 8449.
    • (2001)
    • Gompers, P.1    Ishii, J.2    Metrick, A.3
  • 34
    • 0030269260 scopus 로고    scopus 로고
    • Proxies for the corporate marginal tax rate
    • Graham J. Proxies for the corporate marginal tax rate Journal of Financial Economics 42 1996 187-218
    • (1996) Journal of Financial Economics , vol.42 , pp. 187-218
    • Graham, J.1
  • 35
    • 0004296209 scopus 로고    scopus 로고
    • Prentice-Hall, Upper Saddle River, NJ
    • Greene W. Econometric Analysis 2000 Prentice-Hall Upper Saddle River, NJ
    • (2000) Econometric Analysis
    • Greene, W.1
  • 36
    • 0002345792 scopus 로고    scopus 로고
    • An empirical analysis of the convexity between stock price and CEO's wealth
    • Guay W. An empirical analysis of the convexity between stock price and CEO's wealth Journal of Financial Economics 53 1999 43-71
    • (1999) Journal of Financial Economics , vol.53 , pp. 43-71
    • Guay, W.1
  • 40
    • 0003911147 scopus 로고    scopus 로고
    • The R&D master file documentation
    • NBER Technical Working Paper 72
    • Hall, B., Cummins, C., Laderman, E., Mundy, J., 1998. The R&D master file documentation. NBER Technical Working Paper 72.
    • (1998)
    • Hall, B.1    Cummins, C.2    Laderman, E.3    Mundy, J.4
  • 41
    • 0031521081 scopus 로고    scopus 로고
    • Reciprocally interlocking boards of directors and executive compensation
    • Hallock K.F. Reciprocally interlocking boards of directors and executive compensation Journal of Financial and Quantitative Analysis 32 3 1997 331-344
    • (1997) Journal of Financial and Quantitative Analysis , vol.32 , Issue.3 , pp. 331-344
    • Hallock, K.F.1
  • 42
    • 0742329266 scopus 로고    scopus 로고
    • The economic versus accounting impacts of R&D on U.S. market-to-book ratios
    • Working Paper, University of North Carolina, Chapel Hill
    • Hand, J., 2001. The economic versus accounting impacts of R&D on U.S. market-to-book ratios. Working Paper, University of North Carolina, Chapel Hill.
    • (2001)
    • Hand, J.1
  • 43
    • 84977345685 scopus 로고
    • Resolving the agency problems of external capital through options
    • Haugen R. Senbet L. Resolving the agency problems of external capital through options Journal of Finance 36 1981 629-648
    • (1981) Journal of Finance , vol.36 , pp. 629-648
    • Haugen, R.1    Senbet, L.2
  • 45
    • 0348194856 scopus 로고    scopus 로고
    • Endogenously chosen boards of directors and their monitoring of the CEO
    • Hermalin B.E. Weisbach M.S. Endogenously chosen boards of directors and their monitoring of the CEO American Economic Review 88 1998 96-118
    • (1998) American Economic Review , vol.88 , pp. 96-118
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 46
    • 0003503228 scopus 로고    scopus 로고
    • Boards of directors as an endogenously determined institution: A survey of the economic literature
    • Working Paper, University of California, Berkeley, University of Illinois, Urbana Champaign
    • Hermalin, B.E., Weisbach, M.S., 2001. Boards of directors as an endogenously determined institution: a survey of the economic literature. Working Paper, University of California, Berkeley, University of Illinois, Urbana Champaign.
    • (2001)
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 47
    • 0000712212 scopus 로고    scopus 로고
    • Understanding the determinants of managerial ownership and the link between ownership and performance
    • Himmelberg C. Hubbard G. Palia D. Understanding the determinants of managerial ownership and the link between ownership and performance Journal of Financial Economics 53 1999 353-384
    • (1999) Journal of Financial Economics , vol.53 , pp. 353-384
    • Himmelberg, C.1    Hubbard, G.2    Palia, D.3
  • 49
    • 0001148522 scopus 로고
    • Business unit innovation and the structure of executive compensation
    • Holthausen R. Larcker D. Sloan R. Business unit innovation and the structure of executive compensation Journal of Accounting and Economics 19 2-3 1995 279-313
    • (1995) Journal of Accounting and Economics , vol.19 , Issue.2-3 , pp. 279-313
    • Holthausen, R.1    Larcker, D.2    Sloan, R.3
  • 50
    • 0035540367 scopus 로고    scopus 로고
    • Earnings dilution and the explanatory power of earnings for returns
    • Huson M.R. Scott T.W. Weir H.A. Earnings dilution and the explanatory power of earnings for returns The Accounting Review 76 4 2001 589-612
    • (2001) The Accounting Review , vol.76 , Issue.4 , pp. 589-612
    • Huson, M.R.1    Scott, T.W.2    Weir, H.A.3
  • 51
    • 0001393705 scopus 로고    scopus 로고
    • Assessing empirical research in managerial accounting: A value-based management perspective
    • Ittner C. Larcker D. Assessing empirical research in managerial accounting: a value-based management perspective Journal of Accounting and Economics 32 1-3 2001 349-410
    • (2001) Journal of Accounting and Economics , vol.32 , Issue.1-3 , pp. 349-410
    • Ittner, C.1    Larcker, D.2
  • 52
    • 0037219527 scopus 로고    scopus 로고
    • The structure and performance consequences of equity grants to employees of new economy firms
    • Ittner C. Larcker D. Lambert R. The structure and performance consequences of equity grants to employees of new economy firms Journal of Accounting and Economics 34 1-3 2003 89-127
    • (2003) Journal of Accounting and Economics , vol.34 , Issue.1-3 , pp. 89-127
    • Ittner, C.1    Larcker, D.2    Lambert, R.3
  • 53
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • Jensen M. Meckling W. Theory of the firm: managerial behavior, agency costs and ownership structure Journal of Financial Economics 3 1976 305-360
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.1    Meckling, W.2
  • 54
    • 25044464734 scopus 로고    scopus 로고
    • Understanding high-powered incentives
    • Working Paper, Harvard Business School
    • Jenter, D., 2001. Understanding high-powered incentives. Working Paper, Harvard Business School.
    • (2001)
    • Jenter, D.1
  • 55
    • 84993908989 scopus 로고
    • Top management compensation and capital structure
    • John K. John T. Top management compensation and capital structure Journal of Finance 48 1993 949-974
    • (1993) Journal of Finance , vol.48 , pp. 949-974
    • John, K.1    John, T.2
  • 56
    • 0742276644 scopus 로고    scopus 로고
    • Performance impact of employee stock options
    • Working Paper, Harvard Business School and Virginia Tech
    • Kedia, S., Mozumdar, A., 2002. Performance impact of employee stock options. Working Paper, Harvard Business School and Virginia Tech.
    • (2002)
    • Kedia, S.1    Mozumdar, A.2
  • 57
    • 0001839733 scopus 로고
    • Executive effort and the selection of risky projects
    • Lambert R. Executive effort and the selection of risky projects Rand Journal of Economics 17 1986 77-88
    • (1986) Rand Journal of Economics , vol.17 , pp. 77-88
    • Lambert, R.1
  • 58
    • 0742329268 scopus 로고    scopus 로고
    • Stock options, restricted stock and incentives
    • Working Paper,The Wharton School, University of Pennsylvania
    • Lambert, R., Larcker, D., 2002. Stock options, restricted stock and incentives. Working Paper, The Wharton School, University of Pennsylvania.
    • (2002)
    • Lambert, R.1    Larcker, D.2
  • 60
    • 0030079993 scopus 로고    scopus 로고
    • The capitalization, amortization, and value-relevance of R&D
    • Lev B. Sougiannis T. The capitalization, amortization, and value-relevance of R&D Journal of Accounting and Economics 21 1996 107-138
    • (1996) Journal of Accounting and Economics , vol.21 , pp. 107-138
    • Lev, B.1    Sougiannis, T.2
  • 61
    • 0031206578 scopus 로고    scopus 로고
    • Executive stock ownership and performance: Tracking faint traces
    • Loderer C. Martin K. Executive stock ownership and performance: tracking faint traces Journal of Financial Economics 45 1997 223-255
    • (1997) Journal of Financial Economics , vol.45 , pp. 223-255
    • Loderer, C.1    Martin, K.2
  • 62
    • 0000377479 scopus 로고
    • Executive motivations, earnings and consequent equity performance
    • Masson R.T. Executive motivations, earnings and consequent equity performance Journal of Political Economy 79 1971 1278-1292
    • (1971) Journal of Political Economy , vol.79 , pp. 1278-1292
    • Masson, R.T.1
  • 63
    • 0002636396 scopus 로고
    • The effects of financial reporting costs on the use of employee stock options
    • Matsunaga S. The effects of financial reporting costs on the use of employee stock options The Accounting Review 70 1995 1-26
    • (1995) The Accounting Review , vol.70 , pp. 1-26
    • Matsunaga, S.1
  • 64
    • 0011088442 scopus 로고
    • Additional evidence on equity onwership and corporate value
    • McConnell J. Servaes H. Additional evidence on equity onwership and corporate value Journal of Financial Economics 27 1990 593-612
    • (1990) Journal of Financial Economics , vol.27 , pp. 593-612
    • McConnell, J.1    Servaes, H.2
  • 65
    • 0000207706 scopus 로고
    • Executive compensation structure, ownership and firm performance
    • Mehran H. Executive compensation structure, ownership and firm performance Journal of Financial Economics 38 2 1995 163-184
    • (1995) Journal of Financial Economics , vol.38 , Issue.2 , pp. 163-184
    • Mehran, H.1
  • 66
    • 0039255560 scopus 로고    scopus 로고
    • The efficiency of equity-linked compensation: Understanding the full cost of awarding executive stock options
    • Meulbroek L. The efficiency of equity-linked compensation: understanding the full cost of awarding executive stock options Financial Management 30 2 2001 5-30
    • (2001) Financial Management , vol.30 , Issue.2 , pp. 5-30
    • Meulbroek, L.1
  • 67
    • 33645896609 scopus 로고
    • Management ownership and market valuation: An empirical analysis
    • Morck R. Shleifer A. Vishny R. Management ownership and market valuation: an empirical analysis Journal of Financial Economics 20 1988 293-316
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-316
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 68
    • 0001042527 scopus 로고    scopus 로고
    • Executive compensation
    • Orley, A., David, C. (Eds.), North-Holland, Amsterdam
    • Murphy, K.J., 1999. Executive compensation. In: Orley, A., David, C. (Eds.), Handbook of Labor Economics. North-Holland, Amsterdam.
    • (1999) Handbook of Labor Economics
    • Murphy, K.J.1
  • 70
    • 0036271833 scopus 로고    scopus 로고
    • Empirical evidence on the relation between stock option compensation and risk taking
    • Rajgopal S. Shevlin T. Empirical evidence on the relation between stock option compensation and risk taking Journal of Accounting and Economics 2 33 2002 145-171
    • (2002) Journal of Accounting and Economics , vol.2 , Issue.33 , pp. 145-171
    • Rajgopal, S.1    Shevlin, T.2
  • 71
    • 25044450766 scopus 로고    scopus 로고
    • The value relevance of stock-based employee compensation disclosures
    • Working Paper, Texas A & M University
    • Rees, L., Stott, D., 1998. The value relevance of stock-based employee compensation disclosures. Working Paper, Texas A & M University.
    • (1998)
    • Rees, L.1    Stott, D.2
  • 72
    • 0002279906 scopus 로고
    • Estimating corporate marginal tax rates with asymmetric tax treatment of gains and losses
    • Shevlin T. Estimating corporate marginal tax rates with asymmetric tax treatment of gains and losses Journal of American Taxation Association 11 1990 51-67
    • (1990) Journal of American Taxation Association , vol.11 , pp. 51-67
    • Shevlin, T.1
  • 73
    • 0040531553 scopus 로고    scopus 로고
    • CEO involvement in the selection of new board members: An empirical analysis
    • Shivdasani A. Yermack D. CEO involvement in the selection of new board members: an empirical analysis Journal of Finance 54 1999 1829-1853
    • (1999) Journal of Finance , vol.54 , pp. 1829-1853
    • Shivdasani, A.1    Yermack, D.2
  • 75
    • 0009383773 scopus 로고
    • The investment opportunity set and corporate financing, dividend, and compensation policies
    • Smith C. Watts R. The investment opportunity set and corporate financing, dividend, and compensation policies Journal of Financial Economics 7 1992 117-161
    • (1992) Journal of Financial Economics , vol.7 , pp. 117-161
    • Smith, C.1    Watts, R.2
  • 76
    • 0009169278 scopus 로고    scopus 로고
    • Who manages risk? An empirical examination of risk management practices in the gold mining industry
    • Tufano P. Who manages risk? An empirical examination of risk management practices in the gold mining industry Journal of Finance 51 1996 1097-1137
    • (1996) Journal of Finance , vol.51 , pp. 1097-1137
    • Tufano, P.1
  • 77
    • 0001155473 scopus 로고    scopus 로고
    • Board meeting frequency and firm performance
    • Vafeas N. Board meeting frequency and firm performance Journal of Financial Economics 53 1999 113-142
    • (1999) Journal of Financial Economics , vol.53 , pp. 113-142
    • Vafeas, N.1
  • 78
    • 0000399928 scopus 로고
    • Do corporations award CEO stock options effectively?
    • Yermack D. Do corporations award CEO stock options effectively? Journal of Financial Economics 39 1995 237-269
    • (1995) Journal of Financial Economics , vol.39 , pp. 237-269
    • Yermack, D.1
  • 79
    • 0040238831 scopus 로고    scopus 로고
    • Good timing: CEO stock option awards and company news announcements
    • Yermack D. Good timing: CEO stock option awards and company news announcements Journal of Finance 52 1997 449-477
    • (1997) Journal of Finance , vol.52 , pp. 449-477
    • Yermack, D.1
  • 80
    • 0003300715 scopus 로고    scopus 로고
    • Understanding the determinants of managerial ownership and the link between ownership and performance: Comment
    • Zhou X. Understanding the determinants of managerial ownership and the link between ownership and performance: comment Journal of Financial Economics 62 2001 559-571
    • (2001) Journal of Financial Economics , vol.62 , pp. 559-571
    • Zhou, X.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.