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Employee stock options = exercise timing, hedging, and valuation /

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Employee stock options/ Tim Leung.
其他題名:	exercise timing, hedging, and valuation /
作者:	Leung, Siu Tang,
出版者:	Singapore :World Scientific, : c2022.,
面頁冊數:	1 online resource (228 p.) :ill. :
標題:	Employee stock options. -
電子資源:	https://www.worldscientific.com/worldscibooks/10.1142/10437#t=toc
ISBN:	9789813209640

Employee stock options = exercise timing, hedging, and valuation /
Leung, Siu Tang,1981-

Employee stock optionsexercise timing, hedging, and valuation /[electronic resource] :Tim Leung. - Singapore :World Scientific,c2022. - 1 online resource (228 p.) :ill. - Modern trends in financial engineering,vol. 32424-8371 ;. - Modern trends in financial engineering ;v. 1..

Includes bibliographical references and index.

Preface -- Introduction -- Risk-neutral models with optimal exercises -- Top-down valuation approach -- Utility-based valuation methodology -- Static-dynamic hedging of ESOs -- Hedging and exercising ESOs in a regime-switching market -- Forward indifference valuation of ESOs -- Bibliography -- Index.

"Employee stock options (ESOs) are an integral component of compensation in the US. In fact, almost all S&P 500 companies grant options to their top executives, and the total value accounts for almost half of the total pay for their CEOs. In view of the extensive use and significant cost of ESOs to firms, the Financial Accounting Standards Board (FASB) has mandated expensing ESOs since 2004. This gives rise to the need to create a reasonable valuation method for these options for most firms that grant ESOs to their employees. The valuation of ESOs involves a number of challenging issues, and is thus an important active research area in Accounting, Corporate Finance, and Financial Mathematics. In this exciting book, the author discusses the practical and challenging problems surrounding ESOs from a financial mathematician's perspective. This book provides a systematic overview of the contractual features of ESOs and thoughtful discussions of different valuation approaches, with emphasis on three major aspects: (i) hedging strategies; (ii) exercise timing; and (iii) valuation methodologies. In addition to addressing each of these categories, this book also highlights their connections and combined effects of the cost of ESOs to firms, as well as examines the implications to modeling and valuation approaches. The book features a unique approach that combines stochastic modeling and control techniques with option pricing theory, and provides formulas and numerical schemes for fast implementation and clear illustration."--

Mode of access: World Wide Web.

ISBN: 9789813209640

LCCN: 2021003542Subjects--Topical Terms:

1364792
Employee stock options.

LC Class. No.: HD4928.S74 / L48 2022

Dewey Class. No.: 331.2/1649

Employee stock options = exercise timing, hedging, and valuation /
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260 $a Singapore : $b World Scientific, $c c2022.
300 $a 1 online resource (228 p.) : $b ill.
490 1 $a Modern trends in financial engineering, $x 2424-8371 ; $v vol. 3
504 $a Includes bibliographical references and index.
505 0 $a Preface -- Introduction -- Risk-neutral models with optimal exercises -- Top-down valuation approach -- Utility-based valuation methodology -- Static-dynamic hedging of ESOs -- Hedging and exercising ESOs in a regime-switching market -- Forward indifference valuation of ESOs -- Bibliography -- Index.
520 $a "Employee stock options (ESOs) are an integral component of compensation in the US. In fact, almost all S&P 500 companies grant options to their top executives, and the total value accounts for almost half of the total pay for their CEOs. In view of the extensive use and significant cost of ESOs to firms, the Financial Accounting Standards Board (FASB) has mandated expensing ESOs since 2004. This gives rise to the need to create a reasonable valuation method for these options for most firms that grant ESOs to their employees. The valuation of ESOs involves a number of challenging issues, and is thus an important active research area in Accounting, Corporate Finance, and Financial Mathematics. In this exciting book, the author discusses the practical and challenging problems surrounding ESOs from a financial mathematician's perspective. This book provides a systematic overview of the contractual features of ESOs and thoughtful discussions of different valuation approaches, with emphasis on three major aspects: (i) hedging strategies; (ii) exercise timing; and (iii) valuation methodologies. In addition to addressing each of these categories, this book also highlights their connections and combined effects of the cost of ESOs to firms, as well as examines the implications to modeling and valuation approaches. The book features a unique approach that combines stochastic modeling and control techniques with option pricing theory, and provides formulas and numerical schemes for fast implementation and clear illustration."-- $c Publisher's website.
538 $a Mode of access: World Wide Web.
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588 $a Description based on print version record.
650 0 $a Employee stock options. $3 1364792
830 0 $a Modern trends in financial engineering ; $v v. 1. $3 1236391
856 4 0 $u https://www.worldscientific.com/worldscibooks/10.1142/10437#t=toc