Ken L. Bechmann () and Peter Løchte Jørgensen ()
Ken L. Bechmann: Institut for Finansiering, Handelshøjskolen i København
Peter Løchte Jørgensen: Afdeling for Virksomhedsledelse, Aarhus Universitet
Abstract: The Danish corporate environment has witnessed a dramatic increase in the use of option-based compensation over the last decade. This and many other facts are documented in this article, which provides the first insights into the characteristics of the option and warrant contracts issued by the complete sample of companies listed on the Copenhagen Stock Exchange. Disclosure rules require companies to inform the public about detalis of their option-based compensation programs in company announcements and annual reports. Based on these sources we have built a database containing all publicly available information about option-based compensation contracts in Danish listed companies. This database allows us to calculate, for example, contract values on an aggregate level as well as on firm, personnel group, and individual levels.
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