Joint research unit 7235

Evolution et sensibilité des stock-options : cas du marché français

Abdelaziz Elmarzougui

This paper studies the evolution and incentive effects of the stock-options allotted to the top-managers of the CAC40’s 18 large companies between 1994 and 2003. A database linked to 184 plans of stock-options is used. Three periods of analysis were considered: before, during and after the financial bubble of the 1990’s end. Our results show that the stock-options in France evolved in a spectacular way between 1994 and 2003. Their values were closely related to the stock prices and strike variations. Moreover, we find that the stock-options sensitivity to volatility is more significant during the bubble than before or after. Thus the incentives created by the stock-options are not monotonous, they are a function of the market trends.

AGENDA

Tuesday 31 January 2023

Recherche et Economie et Socioéconomie Politique, des Institutions et des Régulations (RESPIR)

Nathalie Heinich (EHESS)

ANNULÉ ET REPORTÉ À UNE DATE ULTÉRIEURE

Valeur et mesure: aux limites de l’approche économique

Tuesday 31 January 2023

Valeur et mesure: aux limites de l’approche économique

Nathalie Heinich (EHESS)

ANNULÉ ET REPORTÉ À UNE DATE ULTÉRIEURE

Valeur et mesure: aux limites de l’approche économique

Tuesday 31 January 2023

Series of Webinars on Economics of Environment, Energy and Transport (SWEEET)

Aurelien Saussay(OFCE, Sciences Po, Paris), Misato Sato, (London School of Economics and Political Science) Francesco Vona (University of Milan) Layla O’Kane(Lightcast)

En visio

Who’s fit for the low-carbon transition? Emerging skills and wage gaps in job ad data

Tuesday 31 January 2023

Who’s fit for the low-carbon transition? Emerging skills and wage gaps in job ad data

Aurelien Saussay(OFCE, Sciences Po, Paris), Misato Sato, (London School of Economics and Political Science) Francesco Vona (University of Milan) Layla O’Kane(Lightcast)

En visio

Who’s fit for the low-carbon transition? Emerging skills and wage gaps in job ad data

Thursday 2 February 2023

Nouveaux doctorants

Nabil Daher, Michaël Guilloussou, Daniela Lima Rente, Maryam Soltani

Nouveaux doctorants

Thursday 2 February 2023

Lunch

Nabil Daher, Michaël Guilloussou, Daniela Lima Rente, Maryam Soltani

Nouveaux doctorants

Thursday 2 February 2023

Groupe de travail Economie Comportementale

Carole Treibich (Laboratoire d'Economie Appliquée de Grenoble GAEL)

Salle 101

Disentangling peer effects in transportation mode choice: the example of active commuting

Thursday 2 February 2023

Disentangling peer effects in transportation mode choice: the example of active commuting

Carole Treibich (Laboratoire d'Economie Appliquée de Grenoble GAEL)

Salle 101

Disentangling peer effects in transportation mode choice: the example of active commuting

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