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Executive compensation and firm performance in New Zealand: the role of employee stock option plans
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Veröffentlicht in: | Journal of risk and financial management 14(2021), 1/31 vom: Jan., Seite 1-19 |
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Personen und Körperschaften: | , |
Titel: | Executive compensation and firm performance in New Zealand: the role of employee stock option plans/ David K. Ding and Ya Eem Chea |
Format: | E-Book-Kapitel |
Sprache: | Englisch |
veröffentlicht: |
2021
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Gesamtaufnahme: |
: Journal of risk and financial management, 14(2021), 1/31 vom: Jan., Seite 1-19
, volume:14 |
Schlagwörter: | |
Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
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author | Ding, David K., Chea, Ya Eem |
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contents | We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appears within a year from the first ESOP announcement, and for two to four years after the announcement. Our results show that ESOPs improve corporate performance by 10 times the cost of the ESOPs’ adoption in the first year of issue. The improvement persists for four years after the first issuance. These findings confirm the effectiveness of employee stock option plans for companies issuing ESOPs compared with companies that do not issue ESOPs, and show how much the value creation of ESOPs contributes to these firms. |
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spelling | Ding, David K. 1959- VerfasserIn (DE-588)171571568 (DE-627)061787833 (DE-576)354097326 aut, Executive compensation and firm performance in New Zealand the role of employee stock option plans David K. Ding and Ya Eem Chea, 2021, Text txt rdacontent, Computermedien c rdamedia, Online-Ressource cr rdacarrier, DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2, We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appears within a year from the first ESOP announcement, and for two to four years after the announcement. Our results show that ESOPs improve corporate performance by 10 times the cost of the ESOPs’ adoption in the first year of issue. The improvement persists for four years after the first issuance. These findings confirm the effectiveness of employee stock option plans for companies issuing ESOPs compared with companies that do not issue ESOPs, and show how much the value creation of ESOPs contributes to these firms., DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/, employee stock option plans, executive compensation, firm performance, New Zealand, Aufsatz in Zeitschrift DE-206, Chea, Ya Eem VerfasserIn aut, Enthalten in Journal of risk and financial management Basel : MDPI, 2008 14(2021), 1/31 vom: Jan., Seite 1-19 Online-Ressource (DE-627)770970427 (DE-600)2739117-6 (DE-576)395129494 1911-8074 nnns, volume:14 year:2021 number:1/31 month:01 pages:1-19, https://www.mdpi.com/1911-8074/14/1/31/pdf Verlag kostenfrei, https://doi.org/10.3390/jrfm14010031 Resolving-System kostenfrei, http://hdl.handle.net/10419/239448 Resolving-System kostenfrei, https://doi.org/10.3390/jrfm14010031 LFER, https://www.mdpi.com/1911-8074/14/1/31/pdf LFER, LFER 2021-02-09T15:10:43Z |
spellingShingle | Ding, David K., Chea, Ya Eem, Executive compensation and firm performance in New Zealand: the role of employee stock option plans, We examine the role of employee stock option plans (ESOPs) in mitigating agency problems in New Zealand firms. We find that ESOPs have a significant and positive effect on firm performance relative to their non-ESOP counterparts. This relation appears within a year from the first ESOP announcement, and for two to four years after the announcement. Our results show that ESOPs improve corporate performance by 10 times the cost of the ESOPs’ adoption in the first year of issue. The improvement persists for four years after the first issuance. These findings confirm the effectiveness of employee stock option plans for companies issuing ESOPs compared with companies that do not issue ESOPs, and show how much the value creation of ESOPs contributes to these firms., employee stock option plans, executive compensation, firm performance, New Zealand, Aufsatz in Zeitschrift |
title | Executive compensation and firm performance in New Zealand: the role of employee stock option plans |
title_auth | Executive compensation and firm performance in New Zealand the role of employee stock option plans |
title_full | Executive compensation and firm performance in New Zealand the role of employee stock option plans David K. Ding and Ya Eem Chea |
title_fullStr | Executive compensation and firm performance in New Zealand the role of employee stock option plans David K. Ding and Ya Eem Chea |
title_full_unstemmed | Executive compensation and firm performance in New Zealand the role of employee stock option plans David K. Ding and Ya Eem Chea |
title_in_hierarchy | Executive compensation and firm performance in New Zealand: the role of employee stock option plans / David K. Ding and Ya Eem Chea, |
title_short | Executive compensation and firm performance in New Zealand |
title_sort | executive compensation and firm performance in new zealand the role of employee stock option plans |
title_sub | the role of employee stock option plans |
topic | employee stock option plans, executive compensation, firm performance, New Zealand, Aufsatz in Zeitschrift |
topic_facet | employee stock option plans, executive compensation, firm performance, New Zealand, Aufsatz in Zeitschrift |
url | https://www.mdpi.com/1911-8074/14/1/31/pdf, https://doi.org/10.3390/jrfm14010031, http://hdl.handle.net/10419/239448 |