Determinants of stock option use by Japanese companies

Review of Financial Economics

Volumn 15, Issue 3, 2006, Pages 251-269

  Uchida, Konari ^a  

^a UNIVERSITY OF KITAKYUSHU   (Japan)

Author keywords

Agency cost; Corporate governance; Keiretsu; Main bank; Stock option

Indexed keywords

EID: 33747101441     PISSN: 10583300     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.rfe.2005.08.001     Document Type: Article

References (21)

1. Aoki M., Patrick H., and Sheard P. The Japanese main bank system: An introductory overview. In: Aoki M., and Patrick H. (Eds). The Japanese main bank system: Its relevance for developing and transforming economies (1994), Oxford University, Oxford 3-50
2. Baber W.R., Janakiraman S.N., and Kang S.-H. Investment opportunities and the structure of executive compensation. Journal of Accounting and Economics 21 (1996) 297-318
3. Bryant S., Hwang L.-S., and Lilien S. CEO stock-based compensation: An empirical analysis of incentive-intensity, relative mix, and economic determinants. Journal of Business 73 (2000) 661-693
4. Eaton J., and Rosen H.S. Agency, delayed compensation, and the structure of executive remuneration. Journal of Finance 38 (1983) 1489-1505
5. Fukuda A., and Hirota S. Main bank relationships and capital structure in Japan. Journal of the Japanese and International Economies 10 (1996) 250-261
6. Gaver J.J., and Gaver K.M. 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
7. Healy P.M. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7 (1985) 85-107
8. Jensen M.C., and Meckling W.H. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (1976) 305-360
9. John T.A., and John K. Top-management compensation and capital structure. Journal of Finance 48 (1993) 949-974
10. Kang J.-K., Shivdasani A., and Yamada T. The effect of bank relations on investment decisions: An investigation of Japanese takeover bids. Journal of Finance 55 (2000) 2197-2218
11. Kaplan S.N. Top executive rewards and firm performance: A comparison of Japan and the United States. Journal of Political Economy 102 (1994) 510-546
12. Lambert R.A., and Larcker D.F. An analysis of the use of accounting and market measures of performance in executive compensation contracts. Journal of Accounting Research 25 (1987) 85-125
13. Lewellen W., Loderer C., and Martin K. Executive compensation and executive incentive problems: An empirical analysis. Journal of Accounting and Economics 9 (1987) 287-310
14. Matsunaga S.R. The effects of financial reporting costs on the use of employee stock options. Accounting Review 70 (1995) 1-26
15. Matsunaga S.R., Shevlin T., and Shores D. Disqualifying dispositions of incentive stock options: Tax benefits versus financial reporting costs. Journal of Accounting Research 30 (1992) 37-76 (supplement)
16. Mehran H. Executive compensation structure, ownership, and firm performance. Journal of Financial Economics 38 (1995) 163-184
17. Prowse S.D. Institutional investment patterns and corporate financial behavior in the United States and Japan. Journal of Financial Economics 27 (1990) 43-66
18. Prowse S.D. The structure of corporate ownership in Japan. Journal of Finance 47 (1992) 1121-1140
19. Ryan H.E.J., and Wiggins R.A. The influence of firm- and manager-specific characteristics on the structure of executive compensation. Journal of Corporate Finance 7 (2001) 101-123
20. Smith C.W.J., and Watts R.L. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics 32 (1992) 263-292
21. Yermack D. Do corporations award CEO stock options effectively?. Journal of Financial Economics 39 (1995) 237-269