Abstract
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.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 273-294 |
| Number of pages | 22 |
| Journal | British Journal of Industrial Relations |
| Volume | 40 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jun 2002 |
All Science Journal Classification (ASJC) codes
- General Business, Management and Accounting
- Organizational Behavior and Human Resource Management
- Management of Technology and Innovation