ESOPs AND NEW PRODUCT LAUNCH: CONDITIONAL EFFECTS OF FINANCIAL SLACK AND OWNERSHIP CONCENTRATION

Arpita Agnihotri () and Saurabh Bhattacharya
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Arpita Agnihotri: Penn State Harrisburg, 777 W Harrisburg Pike, Middletown, PA 17057, USA
Saurabh Bhattacharya: Newcastle University Business School, 5 Barrack Rd, Newcastle Upon Tyne NE1 4SE, UK

International Journal of Innovation Management (ijim), 2019, vol. 24, issue 03, 1-21

Abstract: Basing on risk propensity and cognitive evaluation theory, this study explores the relationship between stock options and new product launch. A study based on archival data of 273 group affiliated Indian firms for 3 years demonstrates that the rate of new product introduction is a function of stock options provided to employees. Furthermore, ownership concentration of business groups and financial slack moderate this relationship.

Keywords: Stock options; emerging markets; business group; financial slack; new product (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1142/S1363919620500218

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