Do Managers Value Stock Options and Restricted Stock Consistent with Economic Theory?*

Abstract

Contemporary Accounting ResearchVolume 26, Issue 3 p. 899-932 Do Managers Value Stock Options and Restricted Stock Consistent with Economic Theory?* Frank D. Hodge, Frank D. Hodge University of Washington Foster School of BusinessSearch for more papers by this authorShiva Rajgopal, Shiva Rajgopal University of Washington Foster School of BusinessSearch for more papers by this authorTerry Shevlin, Terry Shevlin University of Washington Foster School of BusinessSearch for more papers by this author Frank D. Hodge, Frank D. Hodge University of Washington Foster School of BusinessSearch for more papers by this authorShiva Rajgopal, Shiva Rajgopal University of Washington Foster School of BusinessSearch for more papers by this authorTerry Shevlin, Terry Shevlin University of Washington Foster School of BusinessSearch for more papers by this author First published: 18 January 2010 https://doi.org/10.1506/car.26.3.11Citations: 35 * Accepted by Michel Magnan. We acknowledge helpful comments from Michel Magnan (editor), Bob Bowen, Mark Bradshaw, Dave Burgstahler, Steve Huddart, Chris Ittner, Avi and Israela Kamara, Yuping Jia, Jim Jiambalvo, Jane Kennedy, Susan Krische, Mark Lang, Dawn Matsumoto, Steve Matsunaga, Maarten Pronk, Ed Rice, Lisa Sedor, D. Shores, Lan Shi, Arnie Wright, two anonymous reviewers, and workshop participants at Pennsylvania State University, Tilburg University Spring Camp, University of Melbourne, and the University of Washington. We thank Bob Bowen, Emer Dooley, Crystal Eney, Jim Jiambalvo, Jane Kennedy, and Avi and Israela Kamara for their help in recruiting participants for our field study and interviews. We are grateful to the executives and managers who participated in this project. Frank Hodge acknowledges the support of the Lane A. Daley Fellowship, Shiva Rajgopal acknowledges the support of the Herbert Whitten Professorship, and Terry Shevlin acknowledges the support of the Paul Pigott-PAC-CAR Professorship. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume26, Issue3Fall 2009Pages 899-932 RelatedInformation