| Summary: | 碩士 === 國立彰化師範大學 === 商業教育學系 === 97 === The purpose of this paper is to investigate whether executive backdate stock options exercise date based on the tax-based incentive. Using the sample of Taiwanese executive stock options exercise among trade on TSE and GreTai markets firms from January 8, 2002 to June 27, 2008, we find executives exercise stock options occurring on the lowest closing price day of the month and find 11.78% stock options exercise occurring on the lowest price day of the month. And then, we estimated executives save NT$44,000 tax liability per suspect exercise. We also find when executives concurrent exercise stock options among backdating firms are associated with a higher likelihood of suspect exercise. This shows backdating stock options exercise date produces another agency problem that should be concerned.
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