dc.contributor.author | Chahine S. |
dc.contributor.author | Goergen M. |
dc.contributor.editor | |
dc.date | 2011 |
dc.date.accessioned | 2017-09-07T07:51:24Z |
dc.date.available | 2017-09-07T07:51:24Z |
dc.date.issued | 2011 |
dc.identifier | 10.1016/j.jcorpfin.2011.04.005 |
dc.identifier.isbn | |
dc.identifier.issn | 09291199 |
dc.identifier.uri | http://hdl.handle.net/10938/12126 |
dc.description.abstract | This paper examines the impact of CEO IPO option grants on IPO underpricing. Contrary to Lowry and Murphy (2007) who do not find a relationship between the two, this paper finds such a relationship when board independence, the power of the CEO and venture capitalists (VCs) are taken into account. The results are threefold. First, powerful CEOs are able to reap substantial gains from IPO options, to the detriment of the shareholders. Second, young, powerful VCs use IPO option grants to bribe the CEO to agree to an early IPO which will leave more of the existing shareholders' money on the table. Finally, IPO options only work as a value-enhancing incentive in the presence of strong boards. © 2011 Elsevier B.V. |
dc.format.extent | |
dc.format.extent | Pages: (1116-1131) |
dc.language | English |
dc.publisher | AMSTERDAM |
dc.relation.ispartof | Publication Name: Journal of Corporate Finance; Publication Year: 2011; Volume: 17; no. 4; Pages: (1116-1131); |
dc.relation.ispartofseries | |
dc.relation.uri | |
dc.source | Scopus |
dc.subject.other | |
dc.title | The two sides of CEO option grants at the IPO |
dc.type | Article |
dc.contributor.affiliation | Chahine, S., The Suliman Olayan School of Business, American University of Beirut, Bliss Street, P.O. Box: 11-0236, Beirut, Lebanon |
dc.contributor.affiliation | Goergen, M., Cardiff Business School and European Corporate Governance Institute, Aberconway Building, Colum Drive, Cardiff, CF10 3EU, United Kingdom |
dc.contributor.authorAddress | Chahine, S.; The Suliman Olayan School of Business, American University of Beirut, Bliss Street, P.O. Box: 11-0236, Beirut, Lebanon; email: salim.chahine@aub.edu.lb |
dc.contributor.authorCorporate | University: American University of Beirut; Faculty: Suliman S. Olayan School of Business; Department: School of Business; |
dc.contributor.authorDepartment | School of Business |
dc.contributor.authorDivision | |
dc.contributor.authorEmail | salim.chahine@aub.edu.lb; goergenm@cardiff.ac.uk |
dc.contributor.Faculty | Suliman S. Olayan School of Business |
dc.contributor.authorInitials | Chahine, S |
dc.contributor.authorInitials | Goergen, M |
dc.contributor.authorOrcidID | |
dc.contributor.authorReprintAddress | Chahine, S (reprint author), Amer Univ Beirut, Suliman Olayan Sch Business, Bliss St,POB 11-0236, Beirut, Lebanon. |
dc.contributor.authorResearcherID | |
dc.contributor.authorUniversity | American University of Beirut |
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dc.description.citedCount | 5 |
dc.description.citedTotWOSCount | 2 |
dc.description.citedWOSCount | 2 |
dc.format.extentCount | 16 |
dc.identifier.articleNo | |
dc.identifier.coden | |
dc.identifier.pubmedID | |
dc.identifier.scopusID | 79960952110 |
dc.identifier.url | |
dc.publisher.address | PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS |
dc.relation.ispartofConference | |
dc.relation.ispartofConferenceCode | |
dc.relation.ispartofConferenceDate | |
dc.relation.ispartofConferenceHosting | |
dc.relation.ispartofConferenceLoc | |
dc.relation.ispartofConferenceSponsor | |
dc.relation.ispartofConferenceTitle | |
dc.relation.ispartofFundingAgency | |
dc.relation.ispartOfISOAbbr | J. Corp. Financ. |
dc.relation.ispartOfIssue | 4 |
dc.relation.ispartOfPart | |
dc.relation.ispartofPubTitle | Journal of Corporate Finance |
dc.relation.ispartofPubTitleAbbr | J. Corp. Financ. |
dc.relation.ispartOfSpecialIssue | |
dc.relation.ispartOfSuppl | |
dc.relation.ispartOfVolume | 17 |
dc.source.ID | WOS:000302841300020 |
dc.type.publication | Journal |
dc.subject.otherAuthKeyword | Board independence |
dc.subject.otherAuthKeyword | CEO power |
dc.subject.otherAuthKeyword | Conflicts of interests |
dc.subject.otherAuthKeyword | Corporate governance |
dc.subject.otherAuthKeyword | Initial public offerings |
dc.subject.otherAuthKeyword | Stock options |
dc.subject.otherAuthKeyword | Underpricing |
dc.subject.otherAuthKeyword | Venture capital involvement |
dc.subject.otherChemCAS | |
dc.subject.otherIndex | |
dc.subject.otherKeywordPlus | INITIAL PUBLIC OFFERINGS |
dc.subject.otherKeywordPlus | EXECUTIVE-COMPENSATION |
dc.subject.otherKeywordPlus | CORPORATE GOVERNANCE |
dc.subject.otherKeywordPlus | FIRM PERFORMANCE |
dc.subject.otherKeywordPlus | STOCK-OPTIONS |
dc.subject.otherKeywordPlus | AGENCY COSTS |
dc.subject.otherKeywordPlus | OWNERSHIP |
dc.subject.otherKeywordPlus | MANAGEMENT |
dc.subject.otherKeywordPlus | DIRECTORS |
dc.subject.otherKeywordPlus | TURNOVER |
dc.subject.otherWOS | Business, Finance |
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