The Structure and Performance Consequences of Equity Grants to Employees of New Economy Firms

By Christopher D. Ittner, Richard A. Lambert, David F. Larcker. 2003

622 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/225de52a9e03fe9c042b2745d1f2692cd60df95f

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. David F. Larcker
2. Christopher S. Armstrong
3. Terry Shevlin
4. Michelle Hanlon
5. Shivaram Rajgopal
6. Jennifer Blouin
7. W. Guay
8. John E. Core

In Strategy and Management

1. David F. Larcker
2. Christopher S. Armstrong
3. Terry Shevlin
4. Shivaram Rajgopal
5. W. Guay
6. John E. Core
7. Jennifer Blouin
8. Michelle Hanlon

Citations in the corpus

• Broad-Based Employee Stock Ownership: Motives and Outcomes: Broad-Based Employee Stock Ownership (2014, neutral): “Core and Guay (2001) argue they do, whereas Ittner, Lambert, and Larcker (2003) argue they do not, and Oyer and Schaefer (2005) find mixed evidence.”
• Executive Equity Compensation and Incentives: A Survey (2005, positive): “Consistent with Carter and Lynch (2001a), Ittner et al. (2001) find that repricing frequency is substantially higher for small, hi-tech "new economy" firms.”
• Compensation Committees and CEO Compensation Incentives in U.S. Entrepreneurial Firms (2004, neutral): “Moreover, as Ittner et al. (2003) remark in the conclusions to their paper, “although we have attempted to include all relevant economic determinants in our benchmark models, the statistical results suggest that other factors affect the choice of equity grants in the new economy.””
• Corporate Governance and Cash Holdings: Listed New Economy versus Old Economy Firms (2008, neutral): “As stated above, the firms are classified as listed new economy or old economy firms based on the studies of Ittner et al. (2003) and Murphy (2003).”
• Executive stock options and IPO underpricing (2007, background): “Consistent with Ljungqvist and Wilhelm (2003) and with Loughran and Ritter (2004), we find that Internet firms and firms that went public during the bubble period tend to have higher initial returns.”
• The impact of board gender composition on dividend payouts (2017, result): “The positive sign on ROA and the negative sign on Return volatility are also in line with the existing literature (Jagannathan et al., 2000).”
• Labor Unions, Operating Flexibility, and the Cost of Equity (2010, background): “Following Ittner, Lambert, and Larcker (2003), old-economy industries are defined as industries with SIC codes less than 4000 that are not in the computer, software, Internet, telecommunications, or networking industries.”
• Managerial Risk, Innovation, and Organizational Decline (2009, background): “Finally, given the propensity of innovation-based firms to rely on equity to fund their strategic activities (Bryan et al., 2000; Ittner et al., 2003), we included a measure of equity relative to debt (Equity).”