Employee Stock Option Pricing with Several Characteristics

• Main Author: 紀佩妤
• Other Authors: 吳明政
• Format: Others
• Language: en_US
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/71478259435636363517

碩士 === 國立彰化師範大學 === 商業教育學系 === 101 === This study constructs a pricing model of employee stock options (ESO) under the unique characteristics of employee stock options. There are many previous studies conducted on the issue of the expense of employee stock options for it is difficult to calculate the fair value when they are granted. This Model is based on the binomial tree model of Hull and White (2004) and also incorporates with some unique characteristics. Furthermore, the simulations and sensitivity analysis of the generalized model are presented. It is to be hoped that the results of the model could help predict the actual employee stock options.