Lionel Martellini, Branko Urosevic: Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex-ante, i.e. before uncertainties are resolved, cash bonuses are valued ex-post, i.e. by discounting the realised cash grants.
Professor of Finance, EDHEC Graduate School of Business
Assistant Professor of Finance, CREFC, Department of Economics and Business,Universitat Pompeu Fabra
|Type :||Working paper|
|Date :||le 01/05/2003|
|Extra information :||For more information, please contact EDHEC Research and Development Department [ email@example.com ]|
|Research Cluster :||Finance|