Dr. Florian Wolff promovierte bei Prof. Dr. Peter-J. Jost am Lehrstuhl für Organisationstheorie der Wissenschaftlichen Hochschule für Unternehmensführung (WHU) in Vallendar. Er ist Unternehmensberater bei McKinsey & Company, Inc. in München.

• Tabel of contents.- 1. Introduction to the topic.- 1.1. Relevance of the topic.- 1.2. Questions posed.- 1.3. Summary conclusions.- 1.4. Outline of the structure of the book.- 2. Theoretical & empirical assessment.- 2.1. Definition of a stock option plan.- 2.2. Review of stock option plan use.- 2.3. Empirical analysis of the use of stock option plans.- 2.4. Conclusion.- 3. Review of risk-neutral valuation models.- 3.1. Importance of valuing stock options.- 3.2. Valuing stock options from the company perspective.- 3.3. Valuing stock options from the executive’s perspective.- 3.4. Conclusion.- 4. Utility-based stock-option valuation.- 4.1. General introduction to expected utility models.- 4.2. Hall-Murphy model.- 4.3. Modifications to the ‘traditional’ EU model.- 4.4. Implications for a new model of subjective valuation.- 5. A new model to value executive stock option.- 5.1. Model specification and implementation.- 5.2. Model outputs.- 5.3. Summary of model findings and first hypotheses.- 6. Experimental test of subjective valuations.- 6.1. Purpose of the experiment.- 6.2. Experimental design.- 6.3. Experimental results.- 6.4. Implications for the valuation model.- 7. Conclusion and outlook.- 7.1. Summary conclusions.- 7.2. Future research agenda.- Appendix I.- Appendix I.

Dr. Florian Wolff promovierte bei Prof. Dr. Peter-J. Jost am Lehrstuhl für Organisationstheorie der Wissenschaftlichen Hochschule für Unternehmensführung (WHU) in Vallendar. Er ist Unternehmensberater bei McKinsey & Company, Inc. in München.

• Tabel of contents.- 1. Introduction to the topic.- 1.1. Relevance of the topic.- 1.2. Questions posed.- 1.3. Summary conclusions.- 1.4. Outline of the structure of the book.- 2. Theoretical & empirical assessment.- 2.1. Definition of a stock option plan.- 2.2. Review of stock option plan use.- 2.3. Empirical analysis of the use of stock option plans.- 2.4. Conclusion.- 3. Review of risk-neutral valuation models.- 3.1. Importance of valuing stock options.- 3.2. Valuing stock options from the company perspective.- 3.3. Valuing stock options from the executive’s perspective.- 3.4. Conclusion.- 4. Utility-based stock-option valuation.- 4.1. General introduction to expected utility models.- 4.2. Hall-Murphy model.- 4.3. Modifications to the ‘traditional’ EU model.- 4.4. Implications for a new model of subjective valuation.- 5. A new model to value executive stock option.- 5.1. Model specification and implementation.- 5.2. Model outputs.- 5.3. Summary of model findings and first hypotheses.- 6. Experimental test of subjective valuations.- 6.1. Purpose of the experiment.- 6.2. Experimental design.- 6.3. Experimental results.- 6.4. Implications for the valuation model.- 7. Conclusion and outlook.- 7.1. Summary conclusions.- 7.2. Future research agenda.- Appendix I.- Appendix I.

Dr. Florian Wolff promovierte bei Prof. Dr. Peter-J. Jost am Lehrstuhl für Organisationstheorie der Wissenschaftlichen Hochschule für Unternehmensführung (WHU) in Vallendar. Er ist Unternehmensberater bei McKinsey & Company, Inc. in München.

• Tabel of contents.- 1. Introduction to the topic.- 1.1. Relevance of the topic.- 1.2. Questions posed.- 1.3. Summary conclusions.- 1.4. Outline of the structure of the book.- 2. Theoretical & empirical assessment.- 2.1. Definition of a stock option plan.- 2.2. Review of stock option plan use.- 2.3. Empirical analysis of the use of stock option plans.- 2.4. Conclusion.- 3. Review of risk-neutral valuation models.- 3.1. Importance of valuing stock options.- 3.2. Valuing stock options from the company perspective.- 3.3. Valuing stock options from the executive’s perspective.- 3.4. Conclusion.- 4. Utility-based stock-option valuation.- 4.1. General introduction to expected utility models.- 4.2. Hall-Murphy model.- 4.3. Modifications to the ‘traditional’ EU model.- 4.4. Implications for a new model of subjective valuation.- 5. A new model to value executive stock option.- 5.1. Model specification and implementation.- 5.2. Model outputs.- 5.3. Summary of model findings and first hypotheses.- 6. Experimental test of subjective valuations.- 6.1. Purpose of the experiment.- 6.2. Experimental design.- 6.3. Experimental results.- 6.4. Implications for the valuation model.- 7. Conclusion and outlook.- 7.1. Summary conclusions.- 7.2. Future research agenda.- Appendix I.- Appendix I.