Executive stock options, informative stock prices and innovation

References

• Armstrong, C., & Vashishtha, R. (2012). Executive stock options, differential risk-taking incentives, and firm value. Journal of Financial Economics, 104(1), 70–88. https://doi.org/10.1016/j.jfineco.2011.11.005
   Web of Science ®Google Scholar
• Autore, D. M., Billingsley, R. S., & Kovacs, T. (2011). The 2008 short sale ban: Liquidity, dispersion of opinion, and the cross-section of returns of US financial stocks. Journal of Banking & Finance, 35(9), 2252–2266. https://doi.org/10.1016/j.jbankfin.2011.01.026
   Web of Science ®Google Scholar
• Baixauli-Soler, J. S., Belda-Ruiz, M., & Sanchez-Marin, G. (2015). Executive stock options, gender diversity in the top management team, and firm risk taking. Journal of Business Research, 68(2), 451–463. https://doi.org/10.1016/j.jbusres.2014.06.003
   Web of Science ®Google Scholar
• Black, F., & Scholes, M. (1973). The pricing of options and corporate liabilities. Journal of Political Economy, 81(3), 637–654. https://doi.org/10.1086/260062
   Web of Science ®Google Scholar
• Chang, X., Fu, K., Low, A., & Zhang, W. (2015). Non-executive employee stock options and corporate innovation. Journal of Financial Economics, 115(1), 168–188. https://doi.org/10.1016/j.jfineco.2014.09.002
   Web of Science ®Google Scholar
• Chava, S., Oettl, A., Subramanian, A., & Subramanian, K. V. (2013). Banking deregulation and innovation. Journal of Financial Economics, 109(3), 759–774. https://doi.org/10.1016/j.jfineco.2013.03.015
   Web of Science ®Google Scholar
• Chen, Y., Chen, C., & Chu, C. (2014). The effect of executive stock options on corporate innovative activities. Financial Management, 43(2), 271–290. https://doi.org/10.1111/fima.12036
   Web of Science ®Google Scholar
• Chu, Y., Liu, M., Ma, T., & Li, X. (2020). Executive compensation and corporate risk-taking: Evidence from private loan contracts. Journal of Corporate Finance, 64, 101683. https://doi.org/10.1016/j.jcorpfin.2020.101683
   Web of Science ®Google Scholar
• Cohen, R., Hall, B., & Viceira, L. (2000). Do executive stock options encourage risk taking? Working Paper. Unpublished manuscript, Harvard University.
   Google Scholar
• Ferreira, D., Ferreira, M., & Raposo, C. (2011). Board structure and price informativeness. Journal of Financial Economics, 99(3), 523–545. https://doi.org/10.1016/j.jfineco.2010.10.007
   Web of Science ®Google Scholar
• Hayes, R., Lemmon, M., & Qiu, M. (2012). Stock options and managerial incentives for risk taking: Evidence from FAS 123R. Journal of Financial Economics, 105(1), 174–190. https://doi.org/10.1016/j.jfineco.2012.01.004
   Web of Science ®Google Scholar
• Hsu, P. H., Tian, X., & Xu, Y. (2014). Financial development and innovation: Cross-country evidence. Journal of Financial Economics, 112(1), 116–135. https://doi.org/10.1016/j.jfineco.2013.12.002
   Web of Science ®Google Scholar
• Huang, W., & Zhu, T. (2015). Foreign institutional investors and corporate governance in emerging markets: Evidence of a split-share structure reform in China. Journal of Corporate Finance, 32, 312–326. https://doi.org/10.1016/j.jcorpfin.2014.10.013
   Web of Science ®Google Scholar
• Laporšek, S., Dolenc, P., Grum, A., & Stubelj, I. (2020). Ownership structure and firm performance – The case of Slovenia. Ekonomska Istraživanja/Economic Research, 1–21. https://doi.org/10.1080/1331677X.2020.1865827
   Web of Science ®Google Scholar
• Lee, D., & Liu, M. (2011). Does more information in stock price lead to greater or smaller idiosyncratic return volatility? Journal of Banking & Finance, 35(6), 1563–1580. https://doi.org/10.1016/j.jbankfin.2010.11.002
   Web of Science ®Google Scholar
• Li, S., Brockman, P., & Zurbruegg, R. (2015). Cross-listing, firm-specific information, and corporate governance: Evidence from Chinese A-shares and H-shares. Journal of Corporate Finance, 32, 347–362. https://doi.org/10.1016/j.jcorpfin.2014.10.008
   Web of Science ®Google Scholar
• Lin, K., Karim, K., & Carter, C. (2014). Stock price informativeness and idiosyncratic return volatility in emerging markets: Evidence from China. Review of Pacific Basin Financial Markets and Policies, 17(04), 1450025–1450028. https://doi.org/10.1142/S0219091514500258
   Google Scholar
• Merton, R. (1973). Theory of rational option pricing. The Bell Journal of Economics and Management Science, 4(1), 141–183. https://doi.org/10.2307/3003143
   Google Scholar
• Piotroski, J. D., & Roulstone, D. T. (2004). The influence of analysts, institutional investors, and insiders on the incorporation of market, industry, and firm‐specific information into stock prices. The Accounting Review, 79(4), 1119–1151. https://doi.org/10.2308/accr.2004.79.4.1119
   Web of Science ®Google Scholar
• Tiron-Tudor, A., & Achim, A. (2019). Accounting quality and stock price informativeness: A cross-country study. Economic Research-Ekonomska Istraživanja, 32(1), 2481–2499. https://doi.org/10.1080/1331677X.2019.1650655
   Web of Science ®Google Scholar
• Youssef, A. H., Abonazel, M. R., & Ahmed, E. G. (2020). Estimating the number of patents in the world using count panel data models. Asian Journal of Probability and Statistics, 6(4), 24–33.
   Google Scholar
• Yin, Z. H., Yang, S. Z., & Chen, Q. Y. (2019). Could analysts reduce stock price synchronicity – A textual analysis based on analyst report. China Industrial Economics, (001), 156–173. (in Chinese)
   Google Scholar
• Zhao, Q., & Huang, D. (2013). An empirical study on executive power and plan of stock option. Journal of Chongqing University (Social Edition), 19(3), 65–72. (in Chinese)
   Google Scholar