메뉴 건너뛰기




Volumn 23, Issue 2, 2006, Pages 395-425

Managing stock option expense: The manipulation of option-pricing model assumptions;La gestion des charges liées aux options d'achat d'actions: Manipulation des hypothèses afférentes au modèle d'évaluation des options

Author keywords

Earnings management; Option pricing model assumptions; Stock based compensation

Indexed keywords


EID: 33745588031     PISSN: 08239150     EISSN: None     Source Type: Journal    
DOI: 10.1506/6YVX-9KDJ-08UC-P0Q6     Document Type: Article
Times cited : (50)

References (36)
  • 1
    • 0030215162 scopus 로고    scopus 로고
    • Market valuation of employee stock options
    • Aboody, D. 1996a. Market valuation of employee stock options. Journal of Accounting and Economics 22 (1-3): 357-91.
    • (1996) Journal of Accounting and Economics , vol.22 , Issue.1-3 , pp. 357-391
    • Aboody, D.1
  • 2
    • 20044385431 scopus 로고    scopus 로고
    • Recognition versus disclosure in the oil and gas industry
    • Aboody, D. 1996b. Recognition versus disclosure in the oil and gas industry. Journal of Accounting Research 34 (3): 21-32.
    • (1996) Journal of Accounting Research , vol.34 , Issue.3 , pp. 21-32
    • Aboody, D.1
  • 3
    • 2642549711 scopus 로고    scopus 로고
    • Do firms manage stock-based compensation disclosed under SFAS 123?
    • University of California at Los Angeles and Stanford University
    • Aboody, D., M. E. Barth, and R. Kasznik. 2003. Do firms manage stock-based compensation disclosed under SFAS 123? Working paper, University of California at Los Angeles and Stanford University.
    • (2003) Working Paper
    • Aboody, D.1    Barth, M.E.2    Kasznik, R.3
  • 4
    • 2442620196 scopus 로고    scopus 로고
    • Firms' voluntary recognition of stock-based compensation expense
    • Aboody, D., M. E. Barth, and R. Kasznik. 2004a. Firms' voluntary recognition of stock-based compensation expense. Journal of Accounting Research 42 (2): 123-51.
    • (2004) Journal of Accounting Research , vol.42 , Issue.2 , pp. 123-151
    • Aboody, D.1    Barth, M.E.2    Kasznik, R.3
  • 5
    • 0742329270 scopus 로고    scopus 로고
    • SFAS 123 stock-based compensation expense and equity market values
    • Aboody, D., M. E. Barth, and R. Kasznik. 2004b. SFAS 123 stock-based compensation expense and equity market values. The Accounting Review 79 (2): 251-75.
    • (2004) The Accounting Review , vol.79 , Issue.2 , pp. 251-275
    • Aboody, D.1    Barth, M.E.2    Kasznik, R.3
  • 6
    • 8744260796 scopus 로고    scopus 로고
    • Managing pro forma stock option expense under SFAS No. 123
    • Balsam, S., H. A. Mozes, and H. A. Newman. 2003. Managing pro forma stock option expense under SFAS No. 123. Accounting Horizons 17 (1): 31-45.
    • (2003) Accounting Horizons , vol.17 , Issue.1 , pp. 31-45
    • Balsam, S.1    Mozes, H.A.2    Newman, H.A.3
  • 7
    • 33745615981 scopus 로고    scopus 로고
    • Stock option expense, forward-looking information, and implied volatilities of traded options
    • New York University and Columbia University
    • Bartov, E., P. S. Mohanram, and D. Nissim. 2004. Stock option expense, forward-looking information, and implied volatilities of traded options. Working paper, New York University and Columbia University.
    • (2004) Working Paper
    • Bartov, E.1    Mohanram, P.S.2    Nissim, D.3
  • 8
    • 23844466191 scopus 로고    scopus 로고
    • Recognition versus disclosure: Evidence from voluntary recognition of stock option compensation
    • Stanford University and Duke University
    • Bastian, N., S. Rajgopal, and M. Venkatachalam. 2003. Recognition versus disclosure: Evidence from voluntary recognition of stock option compensation. Working paper, Stanford University and Duke University.
    • (2003) Working Paper
    • Bastian, N.1    Rajgopal, S.2    Venkatachalam, M.3
  • 9
    • 0346739806 scopus 로고
    • Managing financial reports of commercial banks: The influence of taxes, regulatory capital, and earnings
    • Beatty, A., S. L. Chamberlain, and J. Magliolo. 1995. Managing financial reports of commercial banks: The influence of taxes, regulatory capital, and earnings. Journal of Accounting Research 33 (2): 231-61.
    • (1995) Journal of Accounting Research , vol.33 , Issue.2 , pp. 231-261
    • Beatty, A.1    Chamberlain, S.L.2    Magliolo, J.3
  • 10
    • 0030213203 scopus 로고    scopus 로고
    • Discretionary behavior with respect to allowances for loan losses and the behavior of security prices
    • Beaver, W. H., and E. E. Engel. 1996. Discretionary behavior with respect to allowances for loan losses and the behavior of security prices. Journal of Accounting and Economics 22 (1-3): 177-206.
    • (1996) Journal of Accounting and Economics , vol.22 , Issue.1-3 , pp. 177-206
    • Beaver, W.H.1    Engel, E.E.2
  • 11
    • 85015692260 scopus 로고
    • The pricing of options and corporate liabilities
    • Black, F., and M. Scholes. 1973. The pricing of options and corporate liabilities. Journal of Political Economy 81 (3): 637-54.
    • (1973) Journal of Political Economy , vol.81 , Issue.3 , pp. 637-654
    • Black, F.1    Scholes, M.2
  • 13
    • 0000993375 scopus 로고
    • CEO compensation and components of earnings in bank holding companies
    • Clinch, G., and J. Magliolo. 1993. CEO compensation and components of earnings in bank holding companies. Journal of Accounting and Economics 16 (1-3): 241-72.
    • (1993) Journal of Accounting and Economics , vol.16 , Issue.1-3 , pp. 241-272
    • Clinch, G.1    Magliolo, J.2
  • 14
    • 0010788018 scopus 로고
    • Bank differences in the coordination of regulatory capital, earnings, and taxes
    • Collins, J. H., D. A. Shackelford, and J. M. Wahlen. 1995. Bank differences in the coordination of regulatory capital, earnings, and taxes. Journal of Accounting Research 33 (2): 263-91.
    • (1995) Journal of Accounting Research , vol.33 , Issue.2 , pp. 263-291
    • Collins, J.H.1    Shackelford, D.A.2    Wahlen, J.M.3
  • 15
    • 0001245231 scopus 로고    scopus 로고
    • The use of equity grants to manage optimal equity incentive levels
    • Core, J., and W. Guay. 1999. The use of equity grants to manage optimal equity incentive levels. Journal of Accounting and Economics 28 (2): 151-84.
    • (1999) Journal of Accounting and Economics , vol.28 , Issue.2 , pp. 151-184
    • Core, J.1    Guay, W.2
  • 16
    • 0033236337 scopus 로고    scopus 로고
    • The value relevance of financial statement recognition vs. disclosure: Evidence from SFAS No. 106
    • Davis-Friday, P. Y., L. B. Folami, C. Liu, and H. F. Mittelstaedt. 1999. The value relevance of financial statement recognition vs. disclosure: Evidence from SFAS No. 106. The Accounting Review 74 (4): 403-23.
    • (1999) The Accounting Review , vol.74 , Issue.4 , pp. 403-423
    • Davis-Friday, P.Y.1    Folami, L.B.2    Liu, C.3    Mittelstaedt, H.F.4
  • 19
    • 0009942720 scopus 로고    scopus 로고
    • Earnings-based bonus plans and earnings management by business unit managers
    • Guidry, F., A. Leone, and S. Rock. 1999. Earnings-based bonus plans and earnings management by business unit managers. Journal of Accounting and Economics 26 (1-3): 113-42.
    • (1999) Journal of Accounting and Economics , vol.26 , Issue.1-3 , pp. 113-142
    • Guidry, F.1    Leone, A.2    Rock, S.3
  • 20
  • 21
    • 0001712414 scopus 로고
    • Overfunded defined benefit pension plan settlements without asset reversions
    • Haw, I., K. Jung, and S. B. Lilien. 1991. Overfunded defined benefit pension plan settlements without asset reversions. Journal of Accounting and Economics 14 (3): 296-320.
    • (1991) Journal of Accounting and Economics , vol.14 , Issue.3 , pp. 296-320
    • Haw, I.1    Jung, K.2    Lilien, S.B.3
  • 22
    • 0001574630 scopus 로고    scopus 로고
    • A review of the earnings management literature and its implications for standard setting
    • Healy, P. M., and J. M. Wahlen. 1999. A review of the earnings management literature and its implications for standard setting. Accounting Horizons 13 (4): 365-83.
    • (1999) Accounting Horizons , vol.13 , Issue.4 , pp. 365-383
    • Healy, P.M.1    Wahlen, J.M.2
  • 24
    • 33745620609 scopus 로고    scopus 로고
    • Employee stock option fair value estimates: Do managerial discretion and incentives explain accuracy?
    • forthcoming
    • Hodder, L. D., W. Mayew, M. L. McAnally, and C. O. Weaver. 2006. Employee stock option fair value estimates: Do managerial discretion and incentives explain accuracy? Contemporary Accounting Research (forthcoming).
    • (2006) Contemporary Accounting Research
    • Hodder, L.D.1    Mayew, W.2    McAnally, M.L.3    Weaver, C.O.4
  • 25
    • 0036331491 scopus 로고    scopus 로고
    • Audit committee, board of director characteristics, and earnings management
    • Klein, A. 2002. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (3): 375-400.
    • (2002) Journal of Accounting and Economics , vol.33 , Issue.3 , pp. 375-400
    • Klein, A.1
  • 26
    • 33745623814 scopus 로고    scopus 로고
    • Stock options: The fuzzy new math
    • July 14, 96
    • Lavelle, L. 2003. Stock options: The fuzzy new math. Business Week, July 14, 96.
    • (2003) Business Week
    • Lavelle, L.1
  • 27
    • 33745597214 scopus 로고    scopus 로고
    • Employee stock options, residual income valuation and stock price reaction to SFAS 123 footnote disclosures
    • University of Iowa
    • Li, H. 2003. Employee stock options, residual income valuation and stock price reaction to SFAS 123 footnote disclosures. Working paper, University of Iowa.
    • (2003) Working Paper
    • Li, H.1
  • 28
    • 33745603593 scopus 로고    scopus 로고
    • Accounting for stock-based compensation: Restricted stock and employee stock options compared
    • July 2003
    • McConnell, P., J. Pegg, C. Senyek, and D. Mott. 2003. Accounting for stock-based compensation: Restricted stock and employee stock options compared. Bear Stearns Accounting Issues (July 2003).
    • (2003) Bear Stearns Accounting Issues
    • McConnell, P.1    Pegg, J.2    Senyek, C.3    Mott, D.4
  • 29
    • 0002355614 scopus 로고
    • Evidence of earnings management from the provision for bad debts
    • McNichols, M., and P. Wilson. 1988. Evidence of earnings management from the provision for bad debts. Journal of Accounting Research 26 (3): 1-31.
    • (1988) Journal of Accounting Research , vol.26 , Issue.3 , pp. 1-31
    • McNichols, M.1    Wilson, P.2
  • 30
    • 0036271833 scopus 로고    scopus 로고
    • Empirical evidence on the relation between stock option compensation and risk taking
    • Rajgopal, S., and T. Shevlin. 2002. Empirical evidence on the relation between stock option compensation and risk taking. Journal of Accounting and Economics 33 (2): 145-71.
    • (2002) Journal of Accounting and Economics , vol.33 , Issue.2 , pp. 145-171
    • Rajgopal, S.1    Shevlin, T.2
  • 31
    • 79960945134 scopus 로고    scopus 로고
    • Leading the news: Big banks to expense stock options -Insurers, Wall Street firms are to jointly announce major structural change
    • August 13
    • Schroeder, M. 2002. Leading the news: Big banks to expense stock options -Insurers, Wall Street firms are to jointly announce major structural change. Wall Street Journal, August 13, A3.
    • (2002) Wall Street Journal
    • Schroeder, M.1
  • 32
    • 33745605397 scopus 로고    scopus 로고
    • Expensing stock options: The role of publicity
    • Washington University
    • Seethamraju, C., and T. Zach. 2003. Expensing stock options: The role of publicity. Working paper, Washington University.
    • (2003) Working Paper
    • Seethamraju, C.1    Zach, T.2
  • 33
    • 54649085068 scopus 로고    scopus 로고
    • Are accruals during initial public offerings opportunistic?
    • Teoh, S. H., T. J. Wong, and G. Rao. 1998. Are accruals during initial public offerings opportunistic? Review of Accounting Studies 3 (1-2): 175-208.
    • (1998) Review of Accounting Studies , vol.3 , Issue.1-2 , pp. 175-208
    • Teoh, S.H.1    Wong, T.J.2    Rao, G.3
  • 34
    • 0000047027 scopus 로고
    • Positive accounting theory: A ten year perspective
    • Watts, R. L., and J. L. Zimmerman. 1990. Positive accounting theory: A ten year perspective. The Accounting Review 65 (1): 131-56.
    • (1990) The Accounting Review , vol.65 , Issue.1 , pp. 131-156
    • Watts, R.L.1    Zimmerman, J.L.2
  • 35
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix and a direct test for heteroskedasticity
    • White, H. 1980. A heteroskedasticity-consistent covariance matrix and a direct test for heteroskedasticity. Econometrica 48 (4): 817-38.
    • (1980) Econometrica , vol.48 , Issue.4 , pp. 817-838
    • White, H.1
  • 36
    • 0001953906 scopus 로고
    • Methodological issues related to the estimation of financial distress prediction models
    • Zmijewski, M. E. 1984. Methodological issues related to the estimation of financial distress prediction models. Journal of Accounting Research 22 (Supplement): 59-82.
    • (1984) Journal of Accounting Research , vol.22 , Issue.SUPPL. , pp. 59-82
    • Zmijewski, M.E.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.