Determinants of the Adoption of Executive Stock Options in China

被引：2
|
作者：
Wu, Ming-Cheng [1 ]
Liao, Szu-Lang [2 ]
Huang, Yi-Ting [2 ]
机构：
[1] Natl Changhua Univ Educ, Dept Finance, Changhua, Taiwan
[2] Natl Chengchi Univ, Dept Money & Banking, Taipei, Taiwan
来源：
CHINESE ECONOMY | 2013年 / 46卷 / 04期
关键词：
D O I：
10.2753/CES1097-1475460404
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines the factors that determine the adoption of stock option plans by Chinese listed firms. The results show that adoption of executive stock option plans is positively related to return on assets, market-to-book ratio, and chief executive officer duality structures, but negatively related to debt ratio and state ownership. In addition, the adoption of a stock option plan results in significantly positive cumulative abnormal returns during the three-day period following the adoption announcement date.
引用
收藏
页码：63 / 84
页数：22
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