This study extends the employee stock option literature by examining the holding period between exercise and eventual disposition of shares for evidence of earnings management and private information. Prior research has found that hold decisions are associated with future price appreciation, and inferred that private information is behind the decision. This study examines the holding period to determine if the observed future returns are influenced by managers manipulating earnings over the holding period or based on actual private information. It uses multiple proxies for earnings management and finds that individual hold behavior is associated with concurrent and future discretionary accruals. It also finds that a firm-wide hold measure can be used to incrementally explain current and future discretionary accruals. It then examines the relationship between a cleaner proxy for private information (future acquisition announcements), and finds that future acquisitions are associated with current holding decisions. / A Dissertation submitted to the Department of Accounting in partial fulfillment of
the requirements for the degree of Doctor of Philosophy. / Degree Awarded: Summer Semester, 2010. / Date of Defense: April 16, 2010. / Stock Options, Earnings Mangement, Private Information / Includes bibliographical references. / Richard M. Morton, Professor Directing Dissertation; Patrick F. Maroney, University Representative; James S. Doran, Committee Member; Bruce Billings, Committee Member; G. Ryan Huston, Committee Member.
| Identifer | oai:union.ndltd.org:fsu.edu/oai:fsu.digital.flvc.org:fsu_168494 |
| Contributors | Smith, Thomas Joseph (authoraut), Morton, Richard M. (professor directing dissertation), Maroney, Patrick F. (university representative), Doran, James S. (committee member), Billings, Bruce (committee member), Huston, G. Ryan (committee member), Department of Accounting (degree granting department), Florida State University (degree granting institution) |
| Publisher | Florida State University |
| Source Sets | Florida State University |
| Language | English, English |
| Detected Language | English |
| Type | Text, text |
| Format | 1 online resource, computer, application/pdf |
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