OUT‐OF‐THE‐MONEY: THE IMPACT OF UNDERWATER STOCK OPTIONS ON EXECUTIVE JOB SEARCH
研究美国610名高管发现，其持有的水下股票期权比例越高，求职行为越活跃，且该关系受高管对替代就业机会和金钱不足感知的调节。
The need for future leadership in organizations is widely recognized, and often addressed through leadership development, succession planning, and building a top talent pipeline among existing employees. Equally important is retaining talented executives. Executive retention has become a concern for organizations as plunging stock prices have led to vastly devalued stock options, perhaps causing executives to look elsewhere for more lucrative stock option portfolios. Yet, there has been little research on the relationship between stock option value and executive retention. In a cross‐company, cross‐industry sample of 610 U.S. executives, we explored the relationship between underwater stock options and job search. We found a positive association between the percentage of underwater stock options in executives' portfolios and job search. This relationship was moderated as predicted, by executives' perceptions of alternative employment and money inadequacy beliefs.