| Autor: |
Patrick, Todd, Shockley, Brent |
| Předmět: |
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| Zdroj: |
Crain's Cleveland Business. 1/19/2004, Vol. 25 Issue 3, p18-18. 1/2p. |
| Abstrakt: |
Eight years after the Financial Accounting Standards Board first proposed that companies treat employee stock options as expenses when reporting earnings, it has finally decided that is their only option. Fixed-stock-option plans, the most common type of stock compensation plan, do not have an intrinsic value at the grant date, because the exercise price is set at the market price. Most major companies use the Black-Scholes model, which takes into consideration more factors than the intrinsic-value method and is easier to implement than the binomial method. Under Black-Scholes, the value of the stock is a function of six parameters, the price of the underlying stock, the instantaneous variance of the asset returns, the exercise price, time to expiration in days, the risk-free rate and the dividends paid. |
| Databáze: |
Regional Business News |
| Externí odkaz: |
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