Williams, Melissa A.; Michael, Timothy B.; Rao, Ramesh P. - In: Managerial Finance 34 (2008), pp. 316-327
Purpose - The purpose of this paper is to examine the risk-incentive effect of CEO stock options in the banking industry. Design/methodology/approach - For a sample of industrial mergers, Williams and Rao find that the risk-incentive effect of CEO stock options is associated with higher...