Journal of Accounting and Economics Vol. 34 No. 1-3 2003
Stock-based pay in new economy firms
Abstract
Ittner, Lambert, and Larcker (J. Accounting Economics (2003) this issue) present compelling evidence that new economy firms rely more on stock-based compensation than do old economy firms, based on 1998 and 1999 data from a proprietary sample of companies. I complement the ILL results by analyzing data over a longer time period (1992–2001) and, more importantly, document the effect of the 2000 market crash on stock-based pay in new economy firms. Finally, I offer evidence supporting the conjecture that differences in pay practices between new and old economy firms reflect accounting considerations, perceived costs, and competitive inertia.
- DOI
- 10.1016/s0165-4101(02)00090-3
- Volume
- 34
- Issue
- 1-3
- Pages
- 129-147
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref