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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/117572

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Title:	Effects of Executive Share Option Plans on Shareholder Wealth and Firm Performance: The Singapore Evidence
Authors:	陳聖賢 Yeo, Gillian H. H. Chen, Sheng-Syan Ho, Kim Wai Lee, Cheng-few
Contributors:	財管系
Date:	1999
Issue Date:	2018-06-11 18:11:26 (UTC+8)
Abstract:	The main purpose of our paper is to study the institutional nature and characteristics of executive share option plans (ESOPs) in Singapore, a fast‐growing economy and an important investment location in Asia. Our study provides an interesting comparison between the characteristics of ESOPs in Singapore and those in the US. Our paper also investigates the short‐term market reaction to ESOP announcements and the long‐run stock and operating performance of the sample firms following the adoption of the ESOPs. Results indicate weak evidence of a positive abnormal return on the days surrounding the announcement of the ESOPs. However, there is no evidence of long‐term superior stock and operating performance for the ESOP firms relative to benchmarks. The lack of significant incentive effects for the sample firms reflects mainly the unique regulatory environment in Singapore.
Relation:	Financial Review, Vol.34, No.2, pp.1-20
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1111/j.1540-6288.1999.tb00451.x
DOI:	10.1111/j.1540-6288.1999.tb00451.x
Appears in Collections:	[財務管理學系] 期刊論文

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