by Tai Yau-Bun. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaf 48). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGEMENTS --- p.iv / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- LITERATURE REVIEW --- p.3 / Chapter III. --- CONCEPT OF OPTION AND THEORY OF OPTION EXERCIS --- p.7 / Chapter IV. --- DATA --- p.10 / Chapter V. --- INVESTIGATIONS & TESTS --- p.12 / Investigation I: General Pattern of Exercise --- p.12 / Investigation II: Ex-Dividend Date Effect --- p.13 / Test I: Test of Exercise Decision by Using Intrinsic Value --- p.14 / Test II: Test of Exercise on Expiration Date --- p.19 / Chapter VI. --- RESULTS --- p.21 / Result I: General Pattern of Exercise --- p.21 / Result II: Ex-Dividend Date Effect --- p.23 / Result III: Test of Exercise Decision by Using Intrinsic Value --- p.26 / Result IV: Test of Exercise on expiration date --- p.30 / Chapter VII. --- CONCLUSION --- p.32 / APPENDIX --- p.35 / BIBILIOGRAPHY --- p.48

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Thesis (Ph.D.)--University of Nebraska-Lincoln, 2009. / Title from title screen (site viewed January 5, 2010). PDF text: x, 94 p. : col. ill. ; 816 Kb. UMI publication number: AAT 3359825. Includes bibliographical references. Also available in microfilm and microfiche formats.

Not available / text

Thesis (Ph.D.)--The Chinese University of Hong Kong, 2006. / Includes bibliographical references.

Thesis (Ph. D.)--University of Chicago, Dept. of Economics, March 2000. / Includes bibliographical references. Also available on the Internet.

Thesis (Ph. D.)--University of Washington, 1992. / Vita. Includes bibliographical references (leaves [156]-159).

M.Comm. (International Accounting) / The study investigates the potential effect of applying a fair value model after the grant date to employee share options. The research assesses the appropriateness of the requirements of IFRS2 Share-Based Payment transactions with a specific focus on equity-settled Employee Share Options. The researcher has calculated the percentage movements or changes of fair value between each financial year including the overall percentage change. The study was mainly triggered by the IFRS2 Share-Based Payment rules and various arguments from different authors challenging the appropriateness of IFRS2 Share-Based Payment on employee share options (ESOs) transactions in capturing the full economic value transferred to the option holder at exercise date when applying a grant date accounting model. The study provides insights into whether a grant date accounting model is appropriate in measuring ESOs and capturing the full economic value transferred to the option holder. The application of a static fair value model in measuring the value of ESOs has the potential for both positive and negative effects on the compensation cost recognised in the financial statements over the vesting period. After analysing the descriptive financial data on fair value per option over the six year period included in the sample selection, a conclusion was reached that, IASB should consider to true-up or make a restatement of the opening balance of the fair value reserves account in order to minimise the potential permanent error in equity accounts and to minimise the potential effect of understating or overstating the compensation cost. The IASB should further consider the proper classification of equity instruments issued to employee ESOs which comply with other financial instrument accounting standards such as the IAS32 – Financial Instruments: Presentation, and IFRS9 Financial Instruments. This will ensure that transactions viewed as economic equivalents of each other are treated in the same way from an accounting perspective, and the correct measurement basis of ESOs may be achieved.

The joint hypotheses of informationally efficient markets, transparent financial statements, and adequate accounting disclosure suggest that announcements of changes in the accounting treatment of employee stock options from footnote disclosure to expense recognition should not trigger stock price reactions because free-cash-flows will not change. Event study results from a sample of 241 firms that announce such changes reveal statistically significant negative price changes followed by positive price changes about equal in magnitude. We propose the learning, sophisticated investor, neglected firm, and firm size hypotheses to explain the observed announcement-period stock price reaction.

I investigate the effect of shareholder rights and information asymmetry on option-related repurchase activity. Prior research shows that the dilution effect of the exercise of the employee stock options on earnings per share (EPS) decreases the value of stock options. Thus, managers tend to use stock repurchases rather than dividends to return cash to shareholders (the dividend substitution effect). I document that the executive stock option incentives to repurchase stock as a substitute for dividends are stronger when firms have weak shareholder rights and the level of information asymmetry positively influences managerial stock option incentives to repurchase stock. Furthermore, prior research indicates that information asymmetry is positively associated with stock repurchases. I also provide evidence indicating that the relationship between information asymmetry and stock repurchases is stronger when firms have weaker shareholder rights. / Includes bibliography. / Dissertation (Ph.D.)--Florida Atlantic University, 2015. / FAU Electronic Theses and Dissertations Collection