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Frans --- leerboeken --- secundair onderwijs --- fran 485.2 --- schoolboeken --- 485.2 --- Frans ; secundair onderwijs --- Franse taal ; secundair onderwijs ; leermiddelen --- didactiek secundair onderwijs - Franse taal en letterkunde --- 831.3 --- Taal en letterkunde; overige talen --- Schoolbooks - Didactic material --- Contains audio-visual material --- departement Lerarenopleiding 10 --- Franse taalkunde --- handboeken secundair onderwijs --- 3e leerjaar secundair onderwijs --- Algemeen secundair onderwijs --- #BSCH: vak: Frans

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Frans --- 3e leerjaar secundair onderwijs --- Algemeen secundair onderwijs

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This paper tries to find evidence of the positive relationship between stock-based compensation and future crash risk. This is done by using a sample composed of two databases, ExecuComp and Compstat. The database contains data of North-American firms from 2007 until 2017. The focus of this paper is specifically on large firms and CEOs. Besides, we also look at the influence of size and including CFOs in our sample. Two regressions are run, of which the first one, concerning large firms only, is executed on the CEO and CEO-CFO sample. The second regression, which determines the influence of size on crash risk, is executed on the CEO sample. We find a positive relationship between stock-based compensation and future crash risk in the first regression. However, this effect is not significant, so we are not able to make any conclusion. If we include the variable large in the regression and both large and small firms in the sample (regression 2), the relationship becomes negative. However, this relationship is again not significant. Further we find significant evidence that when stock-based compensation exists rather out of options, there is a smaller chance on a crash.