The Value and Incentives of Option-based Compensation in Danish Listed Companies

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The Value and Incentives of Option-based Compensation in Danish Listed Companies

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dc.contributor.author Bechmann, Ken L. en_US
dc.contributor.author Løchte Jørgensen, Peter en_US
dc.date.accessioned 2009-02-04T10:26:15Z
dc.date.available 2009-02-04T10:26:15Z
dc.date.issued 2003-09-30T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/7150
dc.description.abstract Abstract Over the last decade the Danish corporate environment has experienced a significant increase in the use of option-based compensation (OBC). This and many other facts are documented in the present paper which provides the first insights into the characteristics of the option and warrant contracts issued by the complete sample of Danish companies listed on the Copenhagen Stock Exchange. A newly constructed database containing all publicly available information on details of Danish OBC contracts allows us to present, for example, results regarding contract values at an aggregated as well as at firm, personnel group, and individual level. The paper also contains a section which discusses and presents evidence on the incentive effects provided by the option-based compensation contracts adopted by Danish listed companies. en_US
dc.language eng en_US
dc.relation.ispartofseries Working Paper;2003-2 en_US
dc.relation.ispartofseries CAF working paper;2003-149 en_US
dc.subject.other direktører en_US
dc.subject.other danmark en_US
dc.subject.other optioner en_US
dc.subject.other aktieaflønning en_US
dc.subject.other option-based compensation, executive pay, disclosure requirements, valuation, incentives. en_US
dc.title The Value and Incentives of Option-based Compensation in Danish Listed Companies en_US
dc.type wp en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Finansiering en_US
dc.contributor.departmentshort FI en_US
dc.contributor.departmentuk Department of Finance en_US
dc.contributor.departmentukshort FI
dc.idnumber x656315899 en_US
dc.publisher.city København en_US
dc.publisher.year 2003 en_US


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