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

Ken Bechmann, Peter Løchte Jørgensen

Publikation: Working paperForskning

Resumé

AbstractOver the last decade the Danish corporate environment has experienced a significant increase inthe use of option-based compensation (OBC). This and many other facts are documented in the presentpaper which provides the first insights into the characteristics of the option and warrant contracts issuedby the complete sample of Danish companies listed on the Copenhagen Stock Exchange.A newly constructed database containing all publicly available information on details of DanishOBC contracts allows us to present, for example, results regarding contract values at an aggregated aswell as at firm, personnel group, and individual level. The paper also contains a section which discussesand presents evidence on the incentive effects provided by the option-based compensation contractsadopted by Danish listed companies.
AbstractOver the last decade the Danish corporate environment has experienced a significant increase inthe use of option-based compensation (OBC). This and many other facts are documented in the presentpaper which provides the first insights into the characteristics of the option and warrant contracts issuedby the complete sample of Danish companies listed on the Copenhagen Stock Exchange.A newly constructed database containing all publicly available information on details of DanishOBC contracts allows us to present, for example, results regarding contract values at an aggregated aswell as at firm, personnel group, and individual level. The paper also contains a section which discussesand presents evidence on the incentive effects provided by the option-based compensation contractsadopted by Danish listed companies.
SprogEngelsk
Udgivelses stedKøbenhavn
ISBN (Elektronisk)x656315899
StatusUdgivet - 2003

Emneord

  • Direktører
  • Danmark
  • Optioner
  • Aktieaflønning
  • Option-based compensation, executive pay, disclosure requirements, valuation, incentives.
  • Jel Classífication: G30; G13; J33.

Citer dette

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The Value and Incentives of Option-based Compensation in Danish Listed Companies. / Bechmann, Ken; Jørgensen, Peter Løchte.

København, 2003.

Publikation: Working paperForskning

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AB - AbstractOver the last decade the Danish corporate environment has experienced a significant increase inthe use of option-based compensation (OBC). This and many other facts are documented in the presentpaper which provides the first insights into the characteristics of the option and warrant contracts issuedby the complete sample of Danish companies listed on the Copenhagen Stock Exchange.A newly constructed database containing all publicly available information on details of DanishOBC contracts allows us to present, for example, results regarding contract values at an aggregated aswell as at firm, personnel group, and individual level. The paper also contains a section which discussesand presents evidence on the incentive effects provided by the option-based compensation contractsadopted by Danish listed companies.

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KW - Jel Classífication: G30; G13; J33.

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