日本企業のストック・オプション制度導入に対する株式市場の反応
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概要
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This paper examines the stock price reaction around the announcement of stock option plans in Japan. The empirical results indicate that significantly positive market reactions occur after the adoption announcement. Futher, we differentiate the market reaction between top executives and subordinate employees. These results are consistent with the notion that adopting equity-based compensation contacts are to align managerial and shareholder interests.
- 経営行動科学学会の論文
- 2002-07-31