Elayan, Fayez A.; Pukthuanthong, Kuntara; Roll, Richard - Anderson Graduate School of Management, University of … - 2004
During 2002 and 2003, 140 publicly traded U.S. firms announced their intention to recognize an accounting expense when stock options are granted to employees. Many similar firms elected not to expense options. We study the stock market’s reaction. There is no evidence whatsoever that...