Employee stock options: exercise timing, hedging, and valuation
"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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Singapore
World Scientific
c2021
|
| Schriftenreihe: | Modern trends in financial engineering
vol. 3 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "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."-- |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | 1 Online-Ressource (228 Seiten) ill |
| ISBN: | 9789813209640 981320964X |
| DOI: | 10.1142/10437 |
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| 490 | 0 | |a Modern trends in financial engineering |v vol. 3 | |
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| dewey-ones | 331 - Labor economics |
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| doi_str_mv | 10.1142/10437 |
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| id | DE-604.BV047457931 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T18:05:18Z |
| indexdate | 2024-07-10T09:12:41Z |
| institution | BVB |
| isbn | 9789813209640 981320964X |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-032859765 |
| oclc_num | 1268172588 |
| open_access_boolean | |
| physical | 1 Online-Ressource (228 Seiten) ill |
| psigel | ZDB-124-WOP |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | World Scientific |
| record_format | marc |
| series2 | Modern trends in financial engineering |
| spelling | Leung, Siu Tang 1981- Verfasser aut Employee stock options exercise timing, hedging, and valuation Tim Leung Singapore World Scientific c2021 1 Online-Ressource (228 Seiten) ill txt rdacontent c rdamedia cr rdacarrier Modern trends in financial engineering vol. 3 Includes bibliographical references and index "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."-- Employee stock options Electronic books https://doi.org/10.1142/10437 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Leung, Siu Tang 1981- Employee stock options exercise timing, hedging, and valuation Employee stock options |
| title | Employee stock options exercise timing, hedging, and valuation |
| title_auth | Employee stock options exercise timing, hedging, and valuation |
| title_exact_search | Employee stock options exercise timing, hedging, and valuation |
| title_exact_search_txtP | Employee stock options exercise timing, hedging, and valuation |
| title_full | Employee stock options exercise timing, hedging, and valuation Tim Leung |
| title_fullStr | Employee stock options exercise timing, hedging, and valuation Tim Leung |
| title_full_unstemmed | Employee stock options exercise timing, hedging, and valuation Tim Leung |
| title_short | Employee stock options |
| title_sort | employee stock options exercise timing hedging and valuation |
| title_sub | exercise timing, hedging, and valuation |
| topic | Employee stock options |
| topic_facet | Employee stock options |
| url | https://doi.org/10.1142/10437 |
| work_keys_str_mv | AT leungsiutang employeestockoptionsexercisetiminghedgingandvaluation |