| Summary: | 碩士 === 國立高雄大學 === 亞太工商管理學系碩士班 === 99 === This study based on Taiwan firms’ data that gathered from the Market Observation Post System Taiwan and the Taiwan Economic Journal (TEJ). The purpose of this study is to examine the influence the firm-specific characteristics on issuance of ESOs and first we analysis the determinant of the firms’ characteristics and ownership structure. Then, we used binary logistic regression method to explore the firm specific-characteristics on issuance of ESOs.
The findings indicate in the firm specific-characteristics of issued employee stock options, the firm’s return on assets ratio, growth opportunity and the possibility of issue employee stock options were a significant positive relationship. Also, the firm’s free cash flow, director’s share percent, outside shareholders’ share percent in total share and the possibility of issue employee stock options were a significant negative to the relationship.
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