If the SEC Measured CEO Pay Packages Properly, They Would Look Even More Outrageous
Harvard Business Review
DECEMBER 22, 2016
In the case of stock options, the EFV formula is typically a Black-Scholes-Merton option-pricing model that, rooted in the “efficient markets hypothesis,” assumes that changes in a company’s stock-price exhibit a log-normal distribution and thus predicts that most stock-price changes will be very small.
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