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

被引：77

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

页码：273 / 294

页数：22

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