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Abstract:
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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. |
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