Broad-based employee stock options in US 'new economy' firms

被引：75
|
作者：
Sesil, JC [1 ]
Kroumova, MK
Blasi, JR
Kruse, DL
机构：
[1] Rutgers State Univ, Piscataway, NJ 08855 USA
[2] New York Inst Technol, New York, NY USA
来源：
BRITISH JOURNAL OF INDUSTRIAL RELATIONS | 2002年 / 40卷 / 02期
关键词：
D O I：
10.1111/1467-8543.00232
中图分类号：
F24 [劳动经济];
学科分类号：
020106 ; 020207 ; 1202 ; 120202 ;
摘要：
This paper compares the performance of 229 'New Economy' firms offering broad-based stock options to that of their non-stock option counterparts. A simple comparison of these firms reveals that the former have higher shareholder returns, Tobin's q and new knowledge generation. Multivariate analysis using panel data also suggests that the adoption of a stock option plan results in higher levels of value added per employee. However, we do not find evidence that these plans result in superior growth in Tobin's q or new knowledge generation.
引用
收藏
页码：273 / 294
页数：22
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