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Swinging for the fences: the effects of CEO stock options on company risk taking and performance

We unpack the concept of managerial risk-taking, distinguishing among three of its major elements: the size of the outlay; the variance of the potential outcomes; and the likelihood of extreme loss. We then apply our framework in hypothesizing the effects of CEO stock options on strategic behavior and company performance. We find that CEO stock options engender high levels of investment outlays and bring about extreme corporate performance (big gains and big losses), suggesting that stock options prompt CEOs to make high-variance bets, not simply larger bets. Finally, we find that option-loaded CEOs deliver more big losses than big gains..Printed journal

Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit Academy of Management.,
Edisi -
Subjek Stock options
Risk
Performance evaluation
Chief executive officers
Management styles
Hypotheses
Impact analysis
studies
ISBN/ISSN 14273
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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