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dc.contributor.authorJones, Derek C.en
dc.contributor.authorKalmi, Panuen
dc.contributor.authorMäkinen, Mikkoen
dc.date.accessioned2012-09-21T11:28:21Z-
dc.date.available2012-09-21T11:28:21Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/63897-
dc.description.abstractA new, long and rich panel data set consisting of all Finnish publicly traded firms is used to study how firm characteristics and stock market developments influence the adoption and targeting of stock option compensation. Stock option adoption is found to be a pro-cyclical phenomenon. Findings from firm-level econometric analysis often corroborate those based on U.S. data, but important differences also emerge. Findings include: (i) firms with higher market value per employee are more likely to use stock option compensation; (ii) share returns from the past year affect the adoption of targeted stock options, but not broad-based plans; (iii) typically larger firms with dispersed ownership adopt selective plans, while small “new economy” firms favor broad-based plans.en
dc.language.isoengen
dc.publisher|aThe Research Institute of the Finnish Economy (ETLA) |cHelsinkien
dc.relation.ispartofseries|aETLA Discussion Papers |x957en
dc.subject.jelJ33en
dc.subject.jelM52en
dc.subject.ddc330en
dc.subject.keywordstock optionsen
dc.subject.keywordcompensationen
dc.subject.keywordcorporate governanceen
dc.subject.stwCorporate Governanceen
dc.subject.stwPanelen
dc.subject.stwFinnlanden
dc.subject.stwAktienoptionen
dc.titleThe determinants of stock option compensation: Evidence from Finland-
dc.typeWorking Paperen
dc.identifier.ppn474164020en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:rif:dpaper:957en

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