We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings. This paper examines the association between the initial adoption of stock options for senior-level executives and subsequent changes in corporate dividend policy.

The primary research hypothesis is that the addition of a stock option to a manager's compensation package provides an incentive for the executive to reduce corporate dividends. We interpret these results as suggesting that the personal incentives of executives can affect certain aspects of the observed corporate dividend policy.

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Executive Stock Option Plans and Corporate Dividend Policy | Journal of Financial and Quantitative Analysis | Cambridge Core

Abstract This paper examines the association between the initial adoption of stock options for senior-level executives and subsequent changes in corporate dividend policy. Export citation Request permission. Asquithand D. Blackand M.

Famaand H. Hiteand M. Loderer ; and K.

Litzenbergerand K. Tax Effects or Information Effects? Marshand R. Millerand F. Millerand M.

Oferand D. An Empirical Investigation of Dividends. Sefcik ; and R. Journal of Financial and Quantitative Analysis. Who would you like to send this to?

Stock Repurchases are Linked to Executive Stock Options

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Stock Repurchases are Linked to Executive Stock Options

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