We appreciate excellent research assistance from Courtney Edwards, Allison Evans, Laura Knudson, and Julia Wu and insightful comments from an anonymous referee, Alon Brav, John Core, Richard Frankel, David Guenther, John Hand, Mike Lemmon, Ed Maydew, Hamid Mehran, Vikas Mehrotra, Dan Rogers, Richard Sansing, Jim Schallheim, Jake Thomas, Mike Weisbach, workshop participants at the University of Colorado, Cornell, Duke, MIT, the University of North Carolina, Wharton, and audience participants at the 2003 American Accounting Association and American Finance Association meetings. Bob McDonald and Terry Shelvin's comments were especially helpful. All data were publicly available. Lang was visiting the University of Queensland when the first draft of this paper was completed. Graham acknowledges financial support from the Alfred P. Sloan Research Foundation.
Employee Stock Options, Corporate Taxes, and Debt Policy
Version of Record online: 27 NOV 2005
© 2004 the American Finance Association
The Journal of Finance
Volume 59, Issue 4, pages 1585–1618, August 2004
How to Cite
Graham, J. R., Lang, M. H. and Shackelford, D. A. (2004), Employee Stock Options, Corporate Taxes, and Debt Policy. The Journal of Finance, 59: 1585–1618. doi: 10.1111/j.1540-6261.2004.00673.x
- Issue online: 27 NOV 2005
- Version of Record online: 27 NOV 2005
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