Download or read book Employee Stock Options Exercise Timing Hedging And Valuation written by Tim Siu-tang Leung and published by World Scientific. This book was released on 2021-07-29 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employee stock options (ESOs) are an integral component of compensation in the US. In fact, almost all S&P 500 companies grant options to their top executives, and the total value accounts for almost half of the total pay for their CEOs. In view of the extensive use and significant cost of ESOs to firms, the Financial Accounting Standards Board (FASB) has mandated expensing ESOs since 2004. This gives rise to the need to create a reasonable valuation method for these options for most firms that grant ESOs to their employees. The valuation of ESOs involves a number of challenging issues, and is thus an important active research area in Accounting, Corporate Finance, and Financial Mathematics.In this exciting book, the author discusses the practical and challenging problems surrounding ESOs from a financial mathematician's perspective. This book provides a systematic overview of the contractual features of ESOs and thoughtful discussions of different valuation approaches, with emphasis on three major aspects: (i) hedging strategies; (ii) exercise timing; and (iii) valuation methodologies. In addition to addressing each of these categories, this book also highlights their connections and combined effects of the cost of ESOs to firms, as well as examines the implications to modeling and valuation approaches. The book features a unique approach that combines stochastic modeling and control techniques with option pricing theory, and provides formulas and numerical schemes for fast implementation and clear illustration.

Download or read book Shared Capitalism at Work written by Douglas L. Kruse and published by University of Chicago Press. This book was released on 2010-06-15 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm’s performance, also reflect this new attitude toward labor. Shared Capitalism at Work analyzes the effects of this trend on workers and firms. The contributors focus on four main areas: the fraction of firms that participate in shared capitalism programs in the United States and abroad, the factors that enable these firms to overcome classic free rider and risk problems, the effect of shared capitalism on firm performance, and the impact of shared capitalism on worker well-being. This volume provides essential studies for understanding the increasingly important role of shared capitalism in the modern workplace.

Download or read book Age Shock written by Robin Blackburn and published by Verso Books. This book was released on 2012-01-02 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most countries face the future with an ageing population, yet most governments are cutting back on pensions and the care services needed by the elderly. Robin Blackburn exposes the perverse reasoning and special interests which have combined to produce this nonsensical state of affairs. This updated paperback edition of Age Shock includes a new preface explaining why the credit crunch and eurozone crisis have had such a devastating impact and outlining a way to guarantee decent pensions and care provision.

Download or read book Executive Remuneration and Employee Performance Related Pay written by Tito Boeri and published by Fondazione Rodolfo Debendetti. This book was released on 2013-03-28 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: The compensation packages of a growing proportion of firms include pay schemes that are linked to employee or company performance, yet little is known about the patterns of performance related pay. This book compares US and European CEOs to investigate the evolution of executive compensation, its controversies, and its resulting regulations.

Download or read book Behavioral Finance and Asset Prices written by David Bourghelle and published by Springer Nature. This book was released on 2023-04-05 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the financial markets have experienced various crises, shocks and disruptive events, driving high levels of volatility. This volatility is too strong to be fully justified simply by changes in fundamentals. This volume discusses these highly relevant issues with special focus on asset pricing and behavioral finance. Financial price assets of the 2020s appear to be driven by various attractors in addition to fundamentals, and there is no doubt that investor emotions, market sentiment, the news, and external factors such as uncertainty all play a key role. This has been clearly observed in recent years, especially during the ongoing coronavirus pandemic that has changed the common perception of the way financial markets work.

Download or read book Valuing Early Stage and Venture Backed Companies written by Neil J. Beaton and published by John Wiley & Sons. This book was released on 2010-03-29 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuing Early Stage and Venture-Backed Companies Unique in the overall sphere of business valuation, the valuing of early stage and venture-backed companies lacks the traditional metrics of cash flow, earnings, or even revenue at times. But without these metrics, traditional discounted cash flow models and comparison to public markets or private transactions take on less relevance, calling for a more "experiential" valuation approach. In a straightforward, no-nonsense manner, the mystique surrounding the valuation of early stage and venture-backed companies is now unveiled. With an emphasis on applications and models, Valuing Early Stage and Venture-Backed Companies shows the most effective way for your company to prepare and present its valuations. Featuring contributed chapters by a panel of top valuation experts, this book dispels improper valuation techniques promulgated by unknowing business appraisers and answers your key questions about valuation theory and which tools you need to successfully apply in your specific situation. Here, you'll find out more about various valuation techniques, including: "Back solving" valuation Modified cost approach Option pricing model Probability-weighted expected returns model Asian puts New data on discounts for lack of marketability Detailed and hands-on, Valuing Early Stage and Venture-Backed Companies equips you with broad foundational data on the venture capital industry, as well as in-depth analyses of distinct early stage company valuation approaches. Performing valuations for your early stage company requires an understanding of the special circumstances faced by your organization. With ample examples of generally accepted allocation models with complex capital structures common to early stage companies, Valuing Early Stage and Venture-Backed Companies mixes real-life experience with deep technical expertise to equip you with the complete, user-friendly resource you'll turn to often in valuing your early stage or venture-backed company.

Download or read book President s Proposal on Suspension of the Investment Credit and Application of Accelerated Depreciation written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1966 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. - Concentrates on underlying principles that change little, even as the empirical literature moves on - Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces - Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field's substantive findings, all of which help point the way forward

Download or read book The Theory of Corporate Finance written by Jean Tirole and published by Princeton University Press. This book was released on 2010-08-26 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking and comprehensive account of corporate finance Recent decades have seen great theoretical and empirical advances in the field of corporate finance. Whereas once the subject addressed mainly the financing of corporations—equity, debt, and valuation—today it also embraces crucial issues of governance, liquidity, risk management, relationships between banks and corporations, and the macroeconomic impact of corporations. However, this progress has left in its wake a jumbled array of concepts and models that students are often hard put to make sense of. Here, one of the world's leading economists offers a lucid, unified, and comprehensive introduction to modern corporate finance theory. Jean Tirole builds his landmark book around a single model, using an incentive or contract theory approach. Filling a major gap in the field, The Theory of Corporate Finance is an indispensable resource for graduate and advanced undergraduate students as well as researchers of corporate finance, industrial organization, political economy, development, and macroeconomics. Tirole conveys the organizing principles that structure the analysis of today's key management and public policy issues, such as the reform of corporate governance and auditing; the role of private equity, financial markets, and takeovers; the efficient determination of leverage, dividends, liquidity, and risk management; and the design of managerial incentive packages. He weaves empirical studies into the book's theoretical analysis. And he places the corporation in its broader environment, both microeconomic and macroeconomic, and examines the two-way interaction between the corporate environment and institutions. Setting a new milestone in the field, The Theory of Corporate Finance will be the authoritative text for years to come.

Download or read book Too Much Is Not Enough written by Robert W. Kolb and published by Oxford University Press. This book was released on 2012-08-02 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scholarly literature on executive compensation is vast. As such, this literature provides an unparalleled resource for studying the interaction between the setting of incentives (or the attempted setting of incentives) and the behavior that is actually adduced. From this literature, there are several reasons for believing that one can set incentives in executive compensation with a high rate of success in guiding CEO behavior, and one might expect CEO compensation to be a textbook example of the successful use of incentives. Also, as executive compensation has been studied intensively in the academic literature, we might also expect the success of incentive compensation to be well-documented. Historically, however, this has been very far from the case. In Too Much Is Not Enough, Robert W. Kolb studies the performance of incentives in executive compensation across many dimensions of CEO performance. The book begins with an overview of incentives and unintended consequences. Then it focuses on the theory of incentives as applied to compensation generally, and as applied to executive compensation particularly. Subsequent chapters explore different facets of executive compensation and assess the evidence on how well incentive compensation performs in each arena. The book concludes with a final chapter that provides an overall assessment of the value of incentives in guiding executive behavior. In it, Kolb argues that incentive compensation for executives is so problematic and so prone to error that the social value of giving huge incentive compensation packages is likely to be negative on balance. In focusing on incentives, the book provides a much sought-after resource, for while there are a number of books on executive compensation, none focuses specifically on incentives. Given the recent fervor over executive compensation, this unique but logical perspective will garner much interest. And while the literature being considered and evaluated is technical, the book is written in a non-mathematical way accessible to any college-educated reader.

Download or read book Library of Congress Subject Headings written by Library of Congress and published by . This book was released on 2006 with total page 1542 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Executive Compensation written by Gary Girous and published by Business Expert Press. This book was released on 2014-12-08 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: The chief executive officer (CEO) of a corporation and his or her executive team are responsible for the management of the business and its continued operating and financial success. The CEO and executive team are almost always highly compensated and the relative total compensation has mushroomed over time. Most of the compensation now is designed to be performance-based, but leading to charges that executives have incentives to manipulate corporate earnings and stock price in the short-term for their own self interests. The compensation at some companies became so egregious that compensation again became a major public policy issue subject to federal regulation. Executive Compensation focuses on the major topics related to executive compensation—present, past, and future. First, is understanding what executive compensation is, including composition and objectives of pay contracts. Second, how do specific compensation agreements affect corporate behavior and performance? Third, what are the major components, including how and what are accounted for and disclosed? How is compensation, especially executive compensation, accounted for—that is, what are the calculations and journal entries required? Fourth, what does historical analysis tell us about the topic, especially how contractual decisions have been made and what has worked. Finally, what is in store for the future—both expected compensation agreements and what the compensation incentives suggest for future corporate decisions on operations and accounting manipulation.

Download or read book Bulletin Index digest System written by and published by . This book was released on with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Bulletin Index digest System written by United States. Internal Revenue Service and published by . This book was released on 1953 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sourcebook of Labor Markets written by Ivar Berg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: A distinguished roster of contributors considers the state of the art of the field at the turn of the 21st century and charts an ambitious agenda for the future. Following what the editors describe as an `evolutionist' approach to the study of labor markets, the chapters address issues of continuity and discontinuity in a wide range of topics including: markets and institutional structures; employment relations and work structures; patterns of stratification in the United States; and public policies, opportunity structures, and economic outcomes.

Download or read book Government Contracts Reference Book written by CCH Incorporated and published by Wolters Kluwer. This book was released on 2007-11-20 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Executive Strategy written by Frederick Betz and published by John Wiley & Sons. This book was released on 2002-04-24 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: A modern theory of executive strategy for the information age The information revolution has radically transformed virtually every aspect of business today. Yet, no book has fully addressed its impact on strategic management-until now. In Executive Strategy: Strategic Management and Information Technology, Frederick Betz builds on his pioneering work concerning the management of technical innovation to explore the powerful relationship between traditional strategic management and today's computer and communications technologies. By adapting established strategy-related concepts and processes to the strategic management challenges faced by companies in the information age, this book offers readers the background they need to guide processes ranging from the creation of strategic business models and the development of comprehensive planning scenarios to the strategic management of business diversification and the formulation of information strategy. Concepts are developed with a survey of the older business literature on strategy and the newer information strategy literature, and illustrated by a wealth of new technology and e-commerce-related case studies. The case studies, presented in the book and on its accompanying Web site (www.execstrat.com), are drawn from leading companies such as Apple Computer, Pixar, AOL Time Warner, and Amazon.com. From the Internet and e-commerce to the role of computer-aided tools such as inventory control and project management software, the world of information technology is filled with innovations that have crucial ramifications for the strategic management of every business. This book equips present and future engineering and business professionals with the road map they need to help steer the modern organization skillfully through the twists and turns of this new and exciting business landscape.