by: Sesil, James; Kroumova, Maya
Source: Center for HR Strategy, Rutgers University
We examine labor productivity in small, medium, and large firms that broadly distribute stock options under starkly different market conditions - during the bull (1995-1997) and bear (2000-2002) stock markets. We find greater labor output in both upward and downward markets in all firm size categories, with the exception of small firms in a declining market, where the productivity is also greater, but the statistical significance of the result is weak.
Link: Broad-Based Stock Options: Before and After the Market Downturn
Publication Date: 2005-01-01