Market expectations, learning effect and the termination of employee stock ownership plan
Based on a sample of Employee Stock Ownership Plans announced by Chinese listed companies, this paper explores whether managers learn from the market in the decision relating to the termination of the Employee Stock Ownership Plan. Results show that: Managers listen to the market and terminate Emplo...
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| Format: | Article |
| Language: | English |
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Elsevier
2023-03-01
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| Series: | Heliyon |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023018091 |