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 | |
| Publication status | Published - 2013 Jul 1 |
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All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)
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Determinants of the adoption of executive stock options in china. / Wu, Ming-Cheng; Liao, Szu Lang; Huang, Yi Ting.
In: Chinese Economy, Vol. 46, No. 4, 01.07.2013, p. 63-84.Research output: Contribution to journal › Article
TY - JOUR
T1 - Determinants of the adoption of executive stock options in china
AU - Wu, Ming-Cheng
AU - Liao, Szu Lang
AU - Huang, Yi Ting
PY - 2013/7/1
Y1 - 2013/7/1
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=84884773845&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84884773845&partnerID=8YFLogxK
U2 - 10.2753/CES1097-1475460404
DO - 10.2753/CES1097-1475460404
M3 - Article
AN - SCOPUS:84884773845
VL - 46
SP - 63
EP - 84
JO - Chinese Economy
JF - Chinese Economy
SN - 1097-1475
IS - 4
ER -