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DETERMINANTS OF EXECUTIVE STOCK OPTIONS: PORTUGUESE EVIDENCE
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Sandra Alves 
, Júlio Martins, Carlos Ferreira
Abstract
The main purpose of this study is to investigate the determinants of stock options attribution. We hypothesize that the equity held by managers, the ownership concentration, the liquidity constraints, the firm risk and the firm size are related to the firm’s attribution of stock options. Using a sample of 44 companies listed in Euronext Lisbon, we find that only equity held by managers and firm size are related to the firm’s attribution of stock options, documenting a positive relationship for both.
Keywords: Agency Theory, Incentives, Stock Options
How to cite this paper: Alves, S., Martins, J. & Ferreira, C. (2009). Determinants of executive stock options: Portuguese evidence. Corporate Ownership & Control, 7(2-2), 260-268. https://doi.org/10.22495/cocv7i2c2p1
