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Do CEO stock options improve firm pe...

Morrissey, Monique Meroe.

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Do CEO stock options improve firm performance?

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Do CEO stock options improve firm performance?/
Author:	Morrissey, Monique Meroe.
Description:	107 p.
Notes:	Chair: Robin Hahnel.
Contained By:	Dissertation Abstracts International63-08A.
Subject:	Business Administration, Management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3062884
ISBN:	0493805893

Do CEO stock options improve firm performance?
Morrissey, Monique Meroe.

Do CEO stock options improve firm performance? - 107 p.

Chair: Robin Hahnel.

Thesis (Ph.D.)--The American University, 2002.

Using panel data to control for CEO, firm, and industry heterogeneity, I measure the impact of CEO stock options on firm performance in the 1990s. I find that lagged stock options significantly increase shareholder returns and net income, more than compensating for the cost of the options. An alternative explanation is that CEOs who are optimistic about firm prospects push for larger option grants. I also find evidence to suggest that CEOs manipulate reported earnings to maximize option payoffs. The results do not seem driven by tax and accounting anomalies. However, they are quite sensitive to outliers, highlighting the need for further research.

ISBN: 0493805893Subjects--Topical Terms:

626628
Business Administration, Management.

Do CEO stock options improve firm performance?
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100 1 $a Morrissey, Monique Meroe. $3 1257463
245 1 0 $a Do CEO stock options improve firm performance?
300 $a 107 p.
500 $a Chair: Robin Hahnel.
500 $a Source: Dissertation Abstracts International, Volume: 63-08, Section: A, page: 2952.
502 $a Thesis (Ph.D.)--The American University, 2002.
520 $a Using panel data to control for CEO, firm, and industry heterogeneity, I measure the impact of CEO stock options on firm performance in the 1990s. I find that lagged stock options significantly increase shareholder returns and net income, more than compensating for the cost of the options. An alternative explanation is that CEOs who are optimistic about firm prospects push for larger option grants. I also find evidence to suggest that CEOs manipulate reported earnings to maximize option payoffs. The results do not seem driven by tax and accounting anomalies. However, they are quite sensitive to outliers, highlighting the need for further research.
590 $a School code: 0008.
650 4 $a Business Administration, Management. $3 626628
650 4 $a Economics, Finance. $3 626650
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Labor. $3 1019135
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710 2 0 $a The American University. $3 1017567
773 0 $t Dissertation Abstracts International $g 63-08A.
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790 1 0 $a Hahnel, Robin, $e advisor
791 $a Ph.D.
792 $a 2002
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