کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5094051 1376162 2008 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
You can't take it with you: Sunset provisions for equity compensation when managers retire, resign, or die
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
You can't take it with you: Sunset provisions for equity compensation when managers retire, resign, or die
چکیده انگلیسی
Company stock option plans have diverse “sunset” policies for modifying terms of options held by managers who exit the firm. In our S&P 500 sample, these forfeiture, vesting, and expiration provisions are less generous in companies characterized by fast growth, dependence on skilled human capital, and high strategic interaction with competitors. While these results apply for workers who retire at the end of their careers, almost no variation exists in the treatment of workers who resign with the possibility of working elsewhere. For CEOs over age 60, companies' sunset rules imply large discounts to option award values and estimates of total compensation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Corporate Finance - Volume 14, Issue 5, December 2008, Pages 499-511
نویسندگان
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