On Rescissions in Executive Stock Options

In recents years, some executives have been permitted by firms to rescind stock option exercise decisions by returning the stock to the company for a refund of the exercise price. Such rescissions have been widely condemned as weakening incentives. We find that rescissions often deliver the same inc...

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Veröffentlicht in:	The Journal of business (Chicago, Ill.) Ill.), 2005-09, Vol.78 (5), p.1809-1836
Hauptverfasser:	Sundaram, Rangarajan K., Brenner, Menachem, Yermack, David
Format:	Artikel
Sprache:	eng
Schlagworte:	Business structures Business studies Cash Compensation Cost control Dividends Employees Executive compensation Executives Fiscal law Incentives Income taxes Interest rates Options on stocks Rescission Risk aversion Savings Stock options Stock options deferred compensation Stock prices Studies Tax liabilities Tax planning Tax rates Taxes U.S.A Volatility
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