Motivating corporate innovation by option-based compensation - evidence on the U.S. board of directors

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dc.contributorAalto Universityen
dc.contributorAalto-yliopistofi
dc.contributor.advisorOnal, Bunyamin
dc.contributor.authorHovi, Petra
dc.contributor.departmentRahoituksen laitosfi
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2018-03-28T12:49:32Z
dc.date.available2018-03-28T12:49:32Z
dc.date.issued2017
dc.description.abstractI examine the relation between corporate innovation and option-based compensation issued for board of directors with particular focus on the non-executive director options. My findings support the prior research by providing new evidence on the positive effect of non-executive and executive director stock option compensation on motivating corporate innovation. Consistent with earlier literature, I find that unexercised options with lower current value and longer expiration time act as better incentives for risk-taking and investing in innovation for non-executive directors. However, exercising the non-executive options and the length of expiration time affects the innovation less than suggested by prior research.en
dc.format.extent21
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/30474
dc.identifier.urnURN:NBN:fi:aalto-201803281941
dc.language.isoenen
dc.programmeRahoitusfi
dc.subject.keywordoptionen
dc.subject.keywordcompensationen
dc.subject.keywordboarden
dc.subject.keywordinnovationen
dc.subject.keywordpatentsen
dc.titleMotivating corporate innovation by option-based compensation - evidence on the U.S. board of directorsen
dc.typeG1 Kandidaatintyöfi
dc.type.ontasotBachelor's thesisen
dc.type.ontasotKandidaatintyöfi
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