Aboody, David; Johnson, Nicole Bastian; Kasznik, Ron - In: Journal of Accounting and Economics 50 (2010) 1, pp. 74-92
We investigate firms' operating performance subsequent to the repricing of executive and non-executive employee stock options. We find that, relative to non-repricers, repricing firms have a larger increase in operating income and cash flows in subsequent periods. This performance improvement is...