An examination of potential backdating of executive share option grants in South Africa

 

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dc.contributor.advisor Holman, Glen en_ZA
dc.contributor.author Zheng, Fuling en_ZA
dc.date.accessioned 2016-05-04T07:48:11Z
dc.date.available 2016-05-04T07:48:11Z
dc.date.issued 2007 en_ZA
dc.identifier.citation Zheng, F. 2007. An examination of potential backdating of executive share option grants in South Africa. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/19385
dc.description Includes bibliographical references (pages 72-77). en_ZA
dc.description.abstract This study investigates whether executives backdate share option grants to their advantage in South Africa. Using data of 175 option grants to executives among the 41 top companies in South Africa between 2001 and 2006, a pattern of negative cumulative abnormal stock returns before the grant dates but positive and increasing returns thereafter is observed. This pattern is much more pronounced for unscheduled grants. Statistical testing shows the mean cumulative abnormal returns are significantly different from zero after the grant date, but are not significantly different from zero before the grant date. The mean differences in average cumulative abnormal stock returns between pre- and post- grant periods are significantly different. The results suggest that some opportunistic behavior might have taken place around the executive option grants, including backdating. en_ZA
dc.language.iso eng en_ZA
dc.subject.other Financial Management en_ZA
dc.title An examination of potential backdating of executive share option grants in South Africa en_ZA
dc.type Master Thesis
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department Department of Finance and Tax en_ZA
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Zheng, F. (2007). <i>An examination of potential backdating of executive share option grants in South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/19385 en_ZA
dc.identifier.chicagocitation Zheng, Fuling. <i>"An examination of potential backdating of executive share option grants in South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2007. http://hdl.handle.net/11427/19385 en_ZA
dc.identifier.vancouvercitation Zheng F. An examination of potential backdating of executive share option grants in South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2007 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/19385 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Zheng, Fuling AB - This study investigates whether executives backdate share option grants to their advantage in South Africa. Using data of 175 option grants to executives among the 41 top companies in South Africa between 2001 and 2006, a pattern of negative cumulative abnormal stock returns before the grant dates but positive and increasing returns thereafter is observed. This pattern is much more pronounced for unscheduled grants. Statistical testing shows the mean cumulative abnormal returns are significantly different from zero after the grant date, but are not significantly different from zero before the grant date. The mean differences in average cumulative abnormal stock returns between pre- and post- grant periods are significantly different. The results suggest that some opportunistic behavior might have taken place around the executive option grants, including backdating. DA - 2007 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2007 T1 - An examination of potential backdating of executive share option grants in South Africa TI - An examination of potential backdating of executive share option grants in South Africa UR - http://hdl.handle.net/11427/19385 ER - en_ZA


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