政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/70690

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 109951/140892 (78%)
Visitors : 46197697 Online Users : 603

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/70690

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/70690

Title:	The Effect of Executive Stock Options on Corporate Innovative Activities
Authors:	陳嬿如 Chen, Y.R.;C.R. Chen;C.K. Chu
Contributors:	財管系
Date:	2014-06
Issue Date:	2014-10-22 12:25:51 (UTC+8)
Abstract:	This study investigates whether the implicit optionality of executive stock options (ESOs) induce managers to undertake innovative activities associated with various types of risk. We find ESO risk incentive (vega) to be positively correlated with all types of corporate innovations. We also find greater ESO risk incentive effects for the product-related innovative activities that are associated more with systematic risk than idiosyncratic risk. Finally, we document the following pecking order for the ESO risk incentive effects: improved product, new product, alliance, and new research and development. Our results suggest that executives have more incentive to invest in projects with higher systematic risk.
Relation:	Financial Management, 43(2), 271-290
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1111/fima.12036
DOI:	10.1111/fima.12036
Appears in Collections:	[財務管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
271-290.pdf		187Kb	Adobe PDF2	902	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...