Abstract

  
 

References (34)



 
 

Citations (5)



 


 



Managerial Stock Options and the Hedging Premium


Niclas Hagelin


Nordea Bank, Nordea Markets

Martin Holmen


University of Gothenburg - Department of Economics; Göteborg University - Centre for Finance; Hanken School of Economics

Bengt Pramborg


Stockholm University - School of Business

John D. Knopf


University of Connecticut - Department of Finance
August 31, 2004


Abstract:     
Some studies have provided evidence that hedging increases firm value. Other studies have shown that managerial incentives may influence firm hedging. In this paper we provide evidence that hedging increases firm value, however, when hedging is based upon incentives caused by managers' options, firm value decreases.

Number of Pages in PDF File: 30

Keywords: Hedging, managerial incentives, firm value, risk management

JEL Classification: G32, F31

working papers series


Download This Paper

Date posted: September 2, 2004  

Suggested Citation

Hagelin, Niclas, Holmen, Martin, Pramborg, Bengt and Knopf, John D., Managerial Stock Options and the Hedging Premium (August 31, 2004). Available at SSRN: http://ssrn.com/abstract=585641 or http://dx.doi.org/10.2139/ssrn.585641

Contact Information

Niclas Hagelin
Nordea Bank, Nordea Markets ( email )
Hamngatan 10
Stockholm, SE-105 71
Sweden
Martin Holmen
University of Gothenburg - Department of Economics ( email )
School of Business, Economics and Law
Box 640
Gothenburg, 40530
Sweden
+46 31 786 6442 (Phone)
+46 31 7865114 (Fax)
Göteborg University - Centre for Finance ( email )
Box 640
Gothenburg, 403 50
Sweden
Hanken School of Economics ( email )
FI-00101 Helsinki
Finland
Bengt Pramborg (Contact Author)
Stockholm University - School of Business ( email )
Stockholm
Sweden
John D. Knopf
University of Connecticut - Department of Finance ( email )
School of Business
2100 Hillside Road
Storrs, CT 06269
United States
Feedback to SSRN (Beta)


Paper statistics
Abstract Views: 1,251
Downloads: 239
Download Rank: 58,350
References:  34
Citations:  5

© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright
This page was processed by apollo8 in 0.422 seconds