Determinants of the adoption of executive stock options in china

Ming-Cheng Wu; Szu Lang Liao; Yi Ting Huang

doi:10.2753/CES1097-1475460404

Determinants of the adoption of executive stock options in china

Ming-Cheng Wu, Szu Lang Liao, Yi Ting Huang

Department of Finance

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	63-84
Number of pages	22
Journal	Chinese Economy
Volume	46
Issue number	4
DOIs	https://doi.org/10.2753/CES1097-1475460404
Publication status	Published - 2013 Jul 1

All Science Journal Classification (ASJC) codes

Economics, Econometrics and Finance(all)

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abstract = "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.",

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