Aldatmaz, Serdar; Ouimet, Paige; Wesep, Edward D Van - Census Bureau, Department of Commerce - 2014
We show that in the years following a large broad-based employee stock option (BBSO) grant, employee turnover falls at the granting firm. We find evidence consistent with a causal relation by exploiting unexpected changes in the value of unvested options. A large fraction of the reduction in...