The use of stock options is widespread but it is not clear what the reasons for their adoption really are. We offer evidence that the desire to motivate managers to create value may not be the most important one, and that stock options are often a means for managers to appropriate wealth that would belong to shareholders.
Alignment and conflict between management and shareholders: the problem of stock options
MISANI, NICOLA
2002
Abstract
The use of stock options is widespread but it is not clear what the reasons for their adoption really are. We offer evidence that the desire to motivate managers to create value may not be the most important one, and that stock options are often a means for managers to appropriate wealth that would belong to shareholders.
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