The effect of option granting on executive stock purchases
Grout, P. A. and Zalewska, A., 2012. The effect of option granting on executive stock purchases. Economics Letters, 114 (1), pp. 12-15.
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We provide a simple asymmetric information model showing that, in contrast to portfolio diversification arguments, there is a natural complementarity between executive options and stock ownership. Moreover, managers can be made worse off by being granted more executive options.
|Creators||Grout, P. A.and Zalewska, A.|
|Departments||School of Management|
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