| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w7683 |
| 来源ID | Working Paper 7683 |
| Selling Company Shares to Reluctant Employees: France Telecom's Experience | |
| Francois Degeorge; Dirk Jenter; Alberto Moel; Peter Tufano | |
| 发表日期 | 2000-05-01 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | In 1997, France T‚l‚com, the state-owned French telephone company, went through a partial privatization. The government offered current and prior France T‚l‚com employees the opportunity to buy portfolios of shares with various combinations of discounts, required holding periods, leverage, tax treatment, and levels of downside protection. We adapt a neoclassical model of investment decision-making that takes into account firm-specific human capital and holding period restrictions to predict how employees might respond to the share offers. Using a database that tracks over 200,000 eligible participants, we analyze the employees' characteristics and their decisions whether to participate; how much to invest; and what form of stock alternatives they selected. |
| 主题 | Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w7683 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565244 |
| 推荐引用方式 GB/T 7714 | Francois Degeorge,Dirk Jenter,Alberto Moel,et al. Selling Company Shares to Reluctant Employees: France Telecom's Experience. 2000. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w7683.pdf（208KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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