Broad-based employee stock options in US 'new economy' firms.
Sesil, James C. ; Kroumova, Maya K. ; Blasi, Joseph R. ; Kruse, Douglas L.
British Journal of Industrial Relations
2002
40
2
June
273-294
computer industry ; high technology industry ; service sector ; statistics ; workers stock ownership
Wages and wage payment systems
English
Bibliogr.
"This paper compares the performance of 229 'New Economy' firms offering broad-based stock options to that of their non-stock option counterparts. A simple comparison of these firms reveals that the former have higher shareholder returns, Tobin's q and new knowledge generation. Multivariate analysis using panel data also suggests that the adoption of a stock option plan results in higher levels of value added per employee. However, we do not find evidence that these plans result in superior growth in Tobin's q or new knowledge generation."
Paper
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