An Empirical Examination of Stock Options Backdating
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 t...
Main Authors: | , |
---|---|
Other Authors: | |
Format: | Others |
Language: | en_US |
Published: |
2009
|
Online Access: | http://ndltd.ncl.edu.tw/handle/08138742768692866990 |
id |
ndltd-TW-097NCUE5316038 |
---|---|
record_format |
oai_dc |
spelling |
ndltd-TW-097NCUE53160382015-10-13T12:05:44Z http://ndltd.ncl.edu.tw/handle/08138742768692866990 An Empirical Examination of Stock Options Backdating 員工認股權證執行行為之實證分析 Yi-Ting Huang 黃怡婷 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. Ming-Cheng Wu 吳明政 2009 學位論文 ; thesis 0 en_US |
collection |
NDLTD |
language |
en_US |
format |
Others
|
sources |
NDLTD |
description |
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.
|
author2 |
Ming-Cheng Wu |
author_facet |
Ming-Cheng Wu Yi-Ting Huang 黃怡婷 |
author |
Yi-Ting Huang 黃怡婷 |
spellingShingle |
Yi-Ting Huang 黃怡婷 An Empirical Examination of Stock Options Backdating |
author_sort |
Yi-Ting Huang |
title |
An Empirical Examination of Stock Options Backdating |
title_short |
An Empirical Examination of Stock Options Backdating |
title_full |
An Empirical Examination of Stock Options Backdating |
title_fullStr |
An Empirical Examination of Stock Options Backdating |
title_full_unstemmed |
An Empirical Examination of Stock Options Backdating |
title_sort |
empirical examination of stock options backdating |
publishDate |
2009 |
url |
http://ndltd.ncl.edu.tw/handle/08138742768692866990 |
work_keys_str_mv |
AT yitinghuang anempiricalexaminationofstockoptionsbackdating AT huángyítíng anempiricalexaminationofstockoptionsbackdating AT yitinghuang yuángōngrèngǔquánzhèngzhíxíngxíngwèizhīshízhèngfēnxī AT huángyítíng yuángōngrèngǔquánzhèngzhíxíngxíngwèizhīshízhèngfēnxī AT yitinghuang empiricalexaminationofstockoptionsbackdating AT huángyítíng empiricalexaminationofstockoptionsbackdating |
_version_ |
1716853317105090560 |