The Analyse of The Manipulation of Option-Pricing Model Assumptions

摘要：

The empirical results suggest that recognizing firms manage the Rd stock-based compensation expense reported in their financial statements downward more than do firms that only disclose the expense. Additional analyses reveal that recognizing firms assume a lower level of volatility than disclosing firms in the option-pricing model calculations;however,I find no imagine that recognizing firms manage the dividend yield and risk- free interest rate assumptions more than disclosing firms. FASB No. 123 which requires the expensing of the fair value of stock options,so this paper may be of interest to capital-market participants and the FASB as they assess the reliability of stock option expense as determined by option-pricing models.

关键词： Earnings management Option-pricing model assumptions Stock-based compensation Stock option

作者: Jingxian Guo

作者单位: College of Management Shandong University of Technology,Zibo,255049,China

会议类型: 国际会议

会议名称: The First International Conference on Management Innovation(ICMI 2007)(管理创新会议)

会议地点: 上海

会议语种:英文

页码: 994-996

在线出版日期: 2007-06-04（万方平台首次上网日期，不代表论文的发表时间）