A general framework for evaluating executive stock options

@inproceedings{Sircar2007AGF,
  title={A general framework for evaluating executive stock options},
  author={Ronnie Sircar and Wei Xiong},
  year={2007}
}
Motivated by recent recommendations by both European and American accounting standards boards that executive stock options be expensed in firms’ statements, we provide an analytical and flexible framework for their evaluation. Our approach takes into account the vesting period, American style, resetting and reloading provisions that are features of many option programs, and also considers the trading restriction on executives. We identify a recursive structure in the stream of options that are… CONTINUE READING

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