How Does the US Equity Market React to Domestic and International Stock-Based Compensation Accounting Changes? How Does the US Equity Market React to Domestic and International Stock-Based Compensation Accounting Changes?

How Does the US Equity Market React to Domestic and International Stock-Based Compensation Accounting Changes‪?‬

Academy of Accounting and Financial Studies Journal 2008, Jan, 12, 1

Academy of Accounting and Financial Studies Journal
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Publisher Description

ABSTRACT This study examines US equity market performance surrounding the announced changes in rules that account for employees' stock-based compensation plans in a corporation. We found the stock market in general reacted negatively to the issuance of SFAS 123 and its preceding exposure draft, but the observed abnormal returns were insignificant. SFAS 148 amended SFAS 123, and a 2004 exposure draft (ED) proposed additional revisions. The updated treatment of stock based compensation generally caused positive but insignificant pronouncement effects. The insignificance of price reactions to the issuance of SFAS 148 or the ED was not sensitive to a firm's size, domesticity, disclosure requirement, exchange-listing regulation or industry sector.

GENRE
Business & Personal Finance
RELEASED
2008
1 January
LANGUAGE
EN
English
LENGTH
29
Pages
PUBLISHER
The DreamCatchers Group, LLC
PROVIDER INFO
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
323
KB

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