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

Ken Bechmann, Peter Løchte Jørgensen

Research output: Working paperResearch

Abstract

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.
Original languageEnglish
Place of PublicationKøbenhavn
ISBN (Electronic)x656315899
Publication statusPublished - 2003

Cite this

@techreport{4cfece30c02211db9769000ea68e967b,
title = "The Value and Incentives of Option-based Compensation in Danish Listed Companies",
abstract = "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.",
keywords = "Direkt{\o}rer, Danmark, Optioner, Aktieafl{\o}nning, Option-based compensation, executive pay, disclosure requirements, valuation, incentives., Jel Class{\'i}fication: G30; G13; J33.",
author = "Ken Bechmann and J{\o}rgensen, {Peter L{\o}chte}",
year = "2003",
language = "English",
type = "WorkingPaper",

}

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

København, 2003.

Research output: Working paperResearch

TY - UNPB

T1 - The Value and Incentives of Option-based Compensation in Danish Listed Companies

AU - Bechmann, Ken

AU - Jørgensen, Peter Løchte

PY - 2003

Y1 - 2003

N2 - 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.

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.

KW - Direktører

KW - Danmark

KW - Optioner

KW - Aktieaflønning

KW - Option-based compensation, executive pay, disclosure requirements, valuation, incentives.

KW - Jel Classífication: G30; G13; J33.

M3 - Working paper

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

CY - København

ER -