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The Trouble with Stock Options. (2003). Murphy, Kevin J. ; Hall, Brian J..
In: Journal of Economic Perspectives.
RePEc:aea:jecper:v:17:y:2003:i:3:p:49-70.

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  4. Risk-taking incentives and firm credit risk11The authors thank Kristine W. Hankins (editor), the anonymous associate editor and two anonymous reviewers, workshop participants at Lehigh University, Northwestern University, Southern Methodist University, and the University of Florida; conference participants at the Temple University Accounting 100th Anniversary Conference and the Hawaii Accounting Research Conference; Ray Ball, Sam Bonsall, Brian Cadman, Rachel Hayes, Marcus Kirk, Zawadi Lemayian, Karl Muller, Gans Narayanamoorthy, Matthew Ringgenberg, David Sovich, and Liz Tashjian, and Wei Wang (discussant) for helpful comments. We thank Catherine Blowe and Tian (Terri) Xu for research assistance, and Kai Chen for sharing his executive compensation code. Koharki thanks the Krannert School of Management, and Watson thanks the Villanova School of Business for financial support. All errors are our own. ©2016–2025 Kevin Koharki and Luke Watson.. (2025). Koharki, Kevin ; Watson, Luke.
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  87. The role of reference point in CEO restricted stock and its impact on R&D intensity in high-technology firms. (2015). Elizabeth N. K. Lim, .
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  88. The Moderating Effect of Relative Performance Evaluation on the Risk Incentive Properties of Executives’ Equity Portfolios. (2015). Park, Hyungshin ; Vrettos, Dimitris .
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  89. Managerial bonuses, subordinates’ disobedience, and coercion. (2015). shah, anwar ; Oechssler, Jörg ; Nikiforakis, Nikos.
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  90. Effects of Executive Compensation Complexity on Investor Behaviour in an Experimental Stock Market. (2014). Welker, Susanne A. ; Gillenkirch, Robert M. ; Hendriks, Achim .
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  91. Are we using the wrong letters? An analysis of executive stock option Greeks. (2014). Alvarez-Diez, Susana ; Belda-Ruiz, Maria ; Baixauli-Soler, J.
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  92. Explaining the Association between Monitoring and Controversial CEO Pay Practices: an Optimal Contracting Perspective. (2014). Sahuguet, Nicolas ; Chaigneau, Pierre.
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  93. CEO compensation and topmanagement incentives. Internal or social problems ?. (2014). Teulon, Frédéric.
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  94. IFRS and the Use of Accounting-Based Performance Measures in Executive Pay. (2014). Walker, Martin ; Stathopoulos, Konstantinos ; Voulgaris, Georgios.
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  95. Board Independence, CEO Pay, and Camouflaged Compensation. (2014). Singh, Ravi ; Ruiz-Verdu, Pablo.
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  96. The level of CEO compensation for the short and long-term - a view on high-tech firms. (2013). Faria, Paula ; Martins, Franscisco Vitorino ; Brando, Elisio.
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  97. CEO compensation in high-tech firms and changes in the SFAS No 123 (R). (2013). Faria, Paula ; Martins, Franscisco Vitorino ; Brando, Elisio.
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  98. Executive Compensation: Pay-for-Performance in High-Technology Firms. (2013). Faria, Paula ; Martins, Franscisco Vitorino ; Brando, Elisio.
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  99. Introduction des actions gratuites en droit français et évolution des pratiques de rémunération en actions. (2013). Guillot-Soulez, Chloe.
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  100. Media coverage, board structure and CEO compensation: Evidence from Taiwan. (2013). Chen, Chia-Wei ; Yi, Bingsheng ; Lin, Barry J..
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  101. Managerial risk-taking incentives and non-GAAP earnings disclosures. (2013). Wang, XU ; Bansal, Naresh ; Seetharaman, Ananth.
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  102. Ironing out the kinks in executive compensation: Linking incentive pay to average stock prices. (2013). Tian, Yisong S..
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  103. Stock option contract design and managerial fraud. (2013). Santore, Rudy ; Tackie, Martin.
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  104. Dynamic Moral Hazard and Executive Stock Options. (2013). Dong, Baomin ; Guo, Guixia ; Wang, Frank Yong.
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  105. Do Tax Cuts Encourage Rent-Seeking by Top Corporate Executives? Theory and Evidence. (2012). Lopez, Ramon ; Andersen, Dana .
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  106. Optimal Taxation of Top Labor Incomes: A Tale of Three Elasticities. (2012). Stantcheva, Stefanie ; Saez, Emmanuel ; Piketty, Thomas.
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  107. Ambiguity in Dynamic Contracts. (2012). Szydlowski, Martin.
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  108. Robust stock option plans. (2012). Korn, Olaf ; Uhrig-Homburg, Marliese ; Paschke, Clemens .
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  109. Executive remuneration in blockholder-dominated firms. How do Italian firms use stock options?. (2012). Melis, Andrea ; Gaia, Silvia ; Carta, Silvia.
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  110. CEO Compensation and Shareholder Value Orientation Among Large US Firms. (2012). Shin, Taekjin.
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  111. The structure of CEO pay: pay-for-luck and stock-options. (2012). Sahuguet, Nicolas ; Chaigneau, Pierre.
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  112. Executive stock options and earnings management in the portuguese listed companies. (2012). Alves, Sandra.
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  113. Stock options and managerial incentives for risk taking: Evidence from FAS 123R. (2012). Hayes, Rachel M. ; Qiu, Mingming ; Lemmon, Michael.
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  114. Revisiting the incentive effects of executive stock options. (2012). Tang, Chun-Hua.
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  115. The structure of CEO pay: pay-for-luck and stock-options. (2012). Sahuguet, Nicolas ; Chaigneau, Pierre.
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  116. Struktur und Höhe der Vorstandsvergütung: Fakten und Mythen. (2011). Maug, Ernst ; Albrecht, Bernd.
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  117. Optimal Taxation of Top Labor Incomes: A Tale of Three Elasticities. (2011). Stantcheva, Stefanie ; Saez, Emmanuel ; Piketty, Thomas.
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  118. Investor pricing of CEO equity incentives. (2011). Raman, K. ; Boone, Jeff ; Khurana, Inder.
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  119. Does CEOs Performance-based Compensation Waits on Shareholders? A Cross National Analysis. (2011). Fakhfakh, Hamadi ; Jouber, Habib.
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  120. The Impact of Financialization on Income Distribution in the USA and Germany: A Proposal for a New Adjusted Wage Share. (2011). Dünhaupt, Petra ; Duenhaupt, Petra .
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  121. FINANCIAL ACCOUNTING REGULATION AND EXECUTIVE COMPENSATION DESIGN. (2011). Zhou, Wei.
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  122. Employee Stock Options. (2011). Borsum, ystein .
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  123. Les incitations à linnovation dans le secteur privé. (2011). Bonnard, Claire.
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  124. Taxation and the value of employee stock options. (2011). Abudy, Menachem ; Benninga, Simon.
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  125. CFOs versus CEOs: Equity incentives and crashes. (2011). Zhang, Liandong ; Li, Yinghua ; Kim, Jeong-Bon.
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  126. Do ESOPs enhance firm performance? Evidence from Chinas reform experiment. (2011). Zhou, Xianming ; Ning, Xiangdong ; Meng, Rujing ; Zhu, Hongquan.
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  127. Does shareholder approval requirement of equity compensation plans matter?. (2011). Sibilkov, Valeriy ; Wang, Qinghai ; Zaiats, Nataliya.
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  128. Optimal Taxation of Top Labor Incomes: A Tale of Three Elasticities. (2011). Stantcheva, Stefanie ; Saez, Emmanuel ; Piketty, Thomas.
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  129. Executive Pay Regulation: What Regulators, Shareholders, and Managers Can Learn from Major Sports Leagues. (2011). Lang, Markus ; Dietl, Helmut ; Duschl, Tobias .
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  130. The Impact of Employee Stock Option Adoption and Incidence on Productivity: Evidence from U.S. Panel Data. (2011). Peng, YU ; Sesil, James C.
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  131. Do Broad‐Based Stock Options Promote Organization Capital?. (2011). Lin, Yupeng ; Sesil, James C..
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  132. Executive Compensation: A Brief Review. (2010). Bognanno, Michael.
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  133. The use of stock-based pay for sorting: an empirical analysis of compensation for new CEOs. (2010). Kim, Doyoung.
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  134. Backdating, tax evasion, and the unintended consequences of Canadian tax reform. (2010). Tedds, Lindsay ; Compton, Ryan ; Sandler, Daniel.
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  135. New Data for Answering Old Questions Regarding Employee Stock Options. (2010). Hallock, Kevin ; Olson, Craig.
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  136. Extrinsic Rewards and Intrinsic Motives: Standard and Behavioral Approaches To Agency and Labor Markets. (2010). Taylor, Lowell ; Rebitzer, James.
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  137. The productivity effects of stock option schemes: evidence from Finnish panel data. (2010). Mäkinen, Mikko ; jones, derek ; Kalmi, Panu ; Makinen, Mikko.
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  138. Does accounting regulation enhance corporate governance? Evidence from the disclosure of share-based remuneration. (2010). Melis, Andrea ; Carta, Silvia.
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  139. Un modèle renouvelé de gouvernance dentreprise : une évaluation empirique sur données françaises. (2010). CEZANNE, CECILE.
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  140. Aversion to the variability of pay and optimal incentive contracts. (2010). Chaigneau, Pierre.
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  141. Managerial pay adjustments: Decomposition and impact on firm productive efficiency. (2010). Chen, Ming-Yuan.
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  142. International comparison of the remuneration system disclosure. (2010). Franzoni, Simona.
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  143. CEO Compensation. (2010). Jenter, Dirk ; Frydman, Carola.
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  144. THE COMPONENTS OF MANAGERIAL PAY ADJUSTMENTS AND THEIR IMPACT ON FIRM PERFORMANCE. (2010). Chen, Ming-Yuan.
    In: Manchester School.
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  145. Method‐Shifting in Aggressive Earnings Reporting: The Case of the US Software Industrys Response to New US Regulation. (2010). Welker, Robert B ; Zhong, KE ; Gribbin, Donald W.
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  146. Nonrecurring Accounting Transactions and Stock Option Grants. (2010). Zhang, Wei ; Cahan, Steven F.
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  147. Method-Shifting in Aggressive Earnings Reporting: The Case of the US Software Industrys Response to New US Regulation. (2010). Welker, Robert B. ; Zhong, KE ; Gribbin, Donald W..
    In: Journal of Business Finance & Accounting.
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  148. Nonrecurring Accounting Transactions and Stock Option Grants. (2010). Zhang, Wei ; Cahan, Steven F..
    In: Journal of Business Finance & Accounting.
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  149. Executive Compensation: An Overview of Research on Corporate Practices and Proposed Reforms. (2010). Kadyrzhanova, Dalida ; Prabhala, N. ; Faulkender, Michael ; Senbet, Lemma.
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  150. The Relation between Stakeholder Management, Firm Value, and CEO Compensation: A Test of Enlightened Value Maximization. (2010). Davidson, Wallace N. ; Benson, Bradley W..
    In: Financial Management.
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  151. Australian CEO Remuneration. (2010). Goodwin, John ; Tawani, Vineet ; Heaney, Richard.
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  152. Private Information in Executive Stock Option Trades: Evidence of Insider Trading in the UK. (2010). Luintel, Kul ; Kyriacou, Kyriacos ; Mase, Bryan.
    In: Economica.
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  153. Pinocchios Pupil: Using Eyetracking and Pupil Dilation to Understand Truth Telling and Deception in Sender-Receiver Games. (2010). Wang, Joseph ; Camerer, Colin ; Spezio, Michael.
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  154. Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?. (2009). Kaplan, Steven N ; Rauh, Joshua.
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  155. Option Expensing and Managerial Equity Incentives. (2009). Tian, Yisong S ; Feng, YI.
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  156. Executive Compensation: Facts. (2009). Clementi, Gian Luca ; Cooley, Thomas.
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  157. Production, Market Production and the Gender Wage Gap: Incentives and Expectations. (2009). Olivetti, Claudia ; Albanesi, Stefania.
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  158. What’s Wrong with Executive Compensation?. (2009). Harris, Jared.
    In: Journal of Business Ethics.
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  159. Inside Agency: The Rise and Fall of Nortel. (2009). Magnan, Michel ; Fogarty, Timothy ; Bohdjalian, Serge ; Markarian, Garen.
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  160. Strong managers, weak boards?. (2009). Adams, Renee ; Ferreira, Daniel.
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  161. CEO compensation structure following succession: Evidence of optimal incentives with career concerns. (2009). Davidson, Wallace N. ; Elsaid, Eahab ; Benson, Bradley W..
    In: The Quarterly Review of Economics and Finance.
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  162. The impact of the options backdating scandal on shareholders. (2009). Jarrell, Gregg A. ; Bernile, Gennaro.
    In: Journal of Accounting and Economics.
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  163. HOW DO MANAGERS BEHAVE IN STOCK OPTION PLANS? CLINICAL EVIDENCE FROM EXERCISE AND SURVEY DATA. (2009). Weber, Martin ; Sautner, Zacharias.
    In: Journal of Financial Research.
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  164. MANAGERS’ COMPENSATION AND MISREPORTING: A COSTLY STATE VERIFICATION APPROACH. (2009). Colombo, Luca ; Baglioni, Angelo.
    In: Economic Inquiry.
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  165. Risiken und Nebenwirkungen der Offenlegungspflicht von Vorstandsbezügen: Individual- vs. Kollektivausweis. (2008). Göx, Robert ; Heller, Uwe ; Gox, Robert F.
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  166. Executive Compensation: A New View from a Long-Term Perspective, 1936-2005. (2008). Frydman, Carola ; Saks, Raven E..
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  167. Stock-Based Compensation and CEO (Dis)Incentives. (2008). Kandel, Eugene ; Benmelech, Efraim ; Veronesi, Pietro.
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  168. Home Equity, Household Savings and Consumption. (2008). Chinloy, P. ; Benjamin, J..
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  169. Management Compensation and Firm-Level Income Inequality. (2008). Frederiksen, Anders ; Poulsen, Odile.
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  170. How Much to Pay in Cash? Employee Retention via Stock Options. (2008). Gurtoviy, Ruslan ; Gonzalez, Luis G..
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  171. Work hard, not smart: Stock options in executive compensation. (2008). Waddell, Glen ; Barron, John.
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  172. Give everyone a prize? Employee stock options in private venture-backed firms. (2008). Hand, John R. M., .
    In: Journal of Business Venturing.
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  173. High-powered incentives and fraudulent behavior: Stock-based versus stock option-based compensation. (2008). Andergassen, Rainer.
    In: Economics Letters.
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  174. Information asymmetry, contract design and process of negotiation: The stock options awarding case. (2008). de La Bruslerie, hubert ; Deffains-Crapsky, C..
    In: Journal of Corporate Finance.
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  175. CEO Turnover and Relative Performance Evaluation. (2008). Jenter, Dirk ; Kanaan, Fadi .
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  176. CEO Appointments and the Loss of Firm-specific Knowledge - Putting Integrity Back into Hiring Decisions. (2008). Rost, Katja ; Salomo, Soren ; Osterloh, Margit.
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  177. Who is the ultimate master of contractual, regulatory, discretionary and residual cash flows? An answer from the standpoint of corporate governance. (2008). Apreda, Rodolfo.
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  178. Private Information in Executives Option Trades: Evidence from the UK. (2008). Luintel, Kul ; Kyriacou, Kyriacos ; Mase, Bryan.
    In: Cardiff Economics Working Papers.
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  179. THE RELATIONSHIP BETWEEN FINANCIAL INCENTIVES FOR COMPANY PRESIDENTS AND FIRM PERFORMANCE IN JAPAN*. (2008). Kubo, Katsuyuki ; Saito, Takuji.
    In: The Japanese Economic Review.
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  19. MANAGERIAL POWER, STOCK-BASED COMPENSATION, AND FIRM PERFORMANCE: THEORY AND EVIDENCE. (2008). Yin, Xiangkang ; Choe, Chongwoo ; Tian, Gloria .
    In: Monash Economics Working Papers.
    RePEc:mos:moswps:2008-21.

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  20. Information asymmetry, contract design and process of negotiation: The stock options awarding case. (2008). de La Bruslerie, hubert ; Deffains-Crapsky, C..
    In: Journal of Corporate Finance.
    RePEc:eee:corfin:v:14:y:2008:i:2:p:73-91.

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  21. Does corporate governance matter in China?. (2008). Cheung, Yan-Leung ; Lu, Tong ; Jiang, Ping ; Limpaphayom, Piman.
    In: China Economic Review.
    RePEc:eee:chieco:v:19:y:2008:i:3:p:460-479.

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  22. Controversies about the Rise in American Inequality: A Survey. (2008). Dew-Becker, Ian ; Gordon, Robert J.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:6817.

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  23. On Golden Parachutes as Manager Discipline. (2007). Kolmar, Martin ; Fabel, Oliver.
    In: TWI Research Paper Series.
    RePEc:twi:respas:0017.

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  24. Selected Issues in the Rise of Income Inequality. (2007). Gordon, Robert ; Dew-Becker, Ian.
    In: Brookings Papers on Economic Activity.
    RePEc:bin:bpeajo:v:38:y:2007:i:2007-2:p:169-192.

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  25. Optimal CEO Compensation: Some Equivalence Results. (2006). Choe, Chongwoo.
    In: Journal of Labor Economics.
    RePEc:ucp:jlabec:v:24:y:2006:i:1:p:171-201.

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  26. Competitive Pressure, Incentives and Managerial Rewards. (2006). Piccolo, Salvatore ; Martina, Riccardo ; D'Amato, Marcello.
    In: CSEF Working Papers.
    RePEc:sef:csefwp:148.

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  27. Managerial Capital And The Market For Ceos. (2006). Zabojnik, Jan ; Murphy, Kevin.
    In: Working Paper.
    RePEc:qed:wpaper:1110.

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  28. Should executive stock options be abandoned?. (2006). Yin, Xiangkang ; Choe, Chongwoo.
    In: MPRA Paper.
    RePEc:pra:mprapa:13760.

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  29. Optimal Executive Compensation vs. Managerial Power: A Review of Lucian Bebchuk and Jesse Frieds Pay without Performance: The Unfulfilled Promise of Executive Compensation. (2006). Weisbach, Michael.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:12798.

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  30. How has CEO Turnover Changed? Increasingly Performance Sensitive Boards and Increasingly Uneasy CEOs. (2006). Kaplan, Steven ; Minton, Bernadette.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:12465.

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  31. Why Has CEO Pay Increased So Much?. (2006). Landier, Augustin ; Gabaix, Xavier.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:12365.

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  32. An Examination of the Structure of Executive Compensation and Corporate Social Responsibility: A Canadian Investigation. (2006). Mahoney, Lois ; Thorn, Linda.
    In: Journal of Business Ethics.
    RePEc:kap:jbuset:v:69:y:2006:i:2:p:149-162.

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  33. The effect of agency costs on the value of single-segment and multi-segment firms. (2006). Thornton, John ; Wynne, Kevin ; Nam, Jouahn ; Tang, Charles .
    In: Journal of Corporate Finance.
    RePEc:eee:corfin:v:12:y:2006:i:4:p:761-782.

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  34. CEO Power, Compensation and Governance. (2006). Miao, Jianjun ; Albuquerque, Rui.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:5818.

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  35. How do family ties, boards and regulation affect pay at the top? Evidence for Indian CEOs. (2006). Fagernäs, Sonja ; Fagernas, Sonja.
    In: Working Papers.
    RePEc:cbr:cbrwps:wp335.

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  36. Ownership Concentration and Competition in Banking Markets. (2006). Lai, Alexandra ; Solomon, Raphael.
    In: Staff Working Papers.
    RePEc:bca:bocawp:06-7.

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  37. What form of relative performance evaluation?. (2004). Loveira-Pazó, Rosa ; Celentani, Marco ; Loveira-Pazo, Rosa.
    In: Economics Working Papers.
    RePEc:upf:upfgen:744.

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  38. Principal-Agents Contracts Under the Threat of Insurance. (2004). Weinschelbaum, Federico ; Tommasi, Mariano.
    In: Working Papers.
    RePEc:sad:wpaper:69.

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  39. Executive Compensation and Competition in the Banking and Financial Sectors. (2004). Guadalupe, Maria ; Cuñat, Vicente.
    In: IZA Discussion Papers.
    RePEc:iza:izadps:dp1123.

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  40. Stock option incentives and firm performance. (2004). Hillegeist, Stephen A. ; Pealva, Fernando.
    In: IESE Research Papers.
    RePEc:ebg:iesewp:d-0535.

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  41. Managerial Hedging and Portfolio Monitoring. (2004). Rampini, Adriano ; Gottardi, Piero ; Bisin, Alberto.
    In: CESifo Working Paper Series.
    RePEc:ces:ceswps:_1322.

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  42. Executive Compensation and Product Market Competition. (2004). Guadalupe, Maria ; Cuñat, Vicente.
    In: CEP Discussion Papers.
    RePEc:cep:cepdps:dp0617.

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  43. Six Challenges in Designing Equity-Based Pay. (2003). Hall, Brian J..
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9887.

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  44. Executive Compensation and Short-termist Behavior in Speculative Markets. (2003). Xiong, Wei ; Scheinkman, Jose ; Bolton, Patrick.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9722.

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  45. Continuing Dangers of Disinformation in Corporate Accounting Reports. (2003). Kane, Edward J..
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9634.

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  46. The State of U.S. Corporate Governance: Whats Right and Whats Wrong?. (2003). Kaplan, Steven ; Holmstrom, Bengt.
    In: NBER Working Papers.
    RePEc:nbr:nberwo:9613.

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  47. What Determines Stock Option Contract Design?. (2003). Rosenberg, Matts ; Pasternack, Daniel.
    In: Working Papers.
    RePEc:hhb:hanken:0498.

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  48. Executive Compensation as an Agency Problem. (2003). Bebchuk, Lucian.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:3961.

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  49. Executive Compensation as an Agency Problem. (2003). Bebchuk, Lucian A. ; Fried, Jesse M..
    In: Berkeley Olin Program in Law & Economics, Working Paper Series.
    RePEc:cdl:oplwec:qt81q3136r.

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  50. Does the New Economy Need New Governance? Ownership, Knowledge and Performance. (2002). Lehmann, Erik ; Audretsch, David.
    In: CEPR Discussion Papers.
    RePEc:cpr:ceprdp:3626.

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