Scandinavian Working Papers in Economics

Nationaløkonomisk tidsskrift,
Nationaløkonomisk Forening

Aktiemarkedets reaktion på indførelsen af incitamentsprogrammer

2001, Volume 2001, issue 1, pp. 185-197

Caspar Rose ()
Additional contact information
Caspar Rose: Institut for Finansiering, Handelshøjskolen i København

Abstract: This article conducts an event study estimating the impact on share prices of announcements of the introduction of incentive-based pay by Danish companies listed on the stock market. Danish firms have only recently started to use stock-dependent incentive programmes which involve stock options and warrants, whereas em - ployee share schemes have been in use for several years. The article finds that the abnormal return on the day of the announcement day is positive and significantly dif fe - rent from zero, suggesting that stock-related incentive programmes create shareholder value. When the data set is broken down, only stock options and warrants are found to have a significant positive influence on the abnormal returns.

Keywords: Aktiemarkedet; incitamentsprogrammer

JEL-codes: A10

Language: Danish

Full text files

2001.pdf PDF-file Full text

Download statistics

Questions (including download problems) about the papers in this series should be directed to Lasse Wolsgård ()
Report other problems with accessing this service to Sune Karlsson ().

This page generated on 2024-03-20 23:25:50.