CFOs versus CEOs: Equity incentives and crashes
Using a large sample of U.S. firms for the period 1993-2009, we provide evidence that the sensitivity of a chief financial officer's (CFO) option portfolio value to stock price is significantly and positively related to the firm's future stock price crash risk. In contrast, we find only we...
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| Main Authors: | , , |
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
2011
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| 主題: | |
| 在線閱讀: | https://ink.library.smu.edu.sg/soa_research/1706 https://ink.library.smu.edu.sg/context/soa_research/article/2733/viewcontent/CFOsversusCEOs_2011.pdf |
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| 機構: | Singapore Management University |
| 語言: | English |