𝔖 Bobbio Scriptorium
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Exercise behavior, valuation, and the incentive effects of employee stock options

✍ Scribed by J. Carr Bettis; John M. Bizjak; Michael L. Lemmon


Book ID
113710740
Publisher
Elsevier Science
Year
2005
Tongue
English
Weight
308 KB
Volume
76
Category
Article
ISSN
0304-405X

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## 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 state‐dependent employee f