An expanded model for the valuation of e
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Feng-Yu Liao; Yuh-Dauh Lyuu
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Article
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2009
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John Wiley and Sons
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English
β 437 KB
π 1 views
## Abstract The unique characteristics of employee stock options make straightforward applications of traditional option pricing models questionable. This study extends the standard pricing model to account for the dilution effect, the employees' exercise pattern, and the stateβdependent employee f