PENGARUH PENERAPAN EMPLOYEE STOCK OPTION PROGRAM
TERHADAP REAKSI PASAR DAN KINERJA PERUSAHAAN DI INDONESIA
Erick Hariyono
NIM: 121010010
ABSTRACT
In a company, there is always conection
between the owner’s interst and his manager’s in taking decisions. Owner’s
interest as the principal and manager’s as the agent always have conflict of
interests. Many applications are created to minimalize agency’s problems. One
of many ways which is used to decrease agency’s problem by using Employee Stock
Owner Program (ESOP). ESOP application is still new and rarely used by
companies in Indonesia. Accordingly, verification of market reaction effect and
company performance is needed in Indonesia. This article discussed about the
congruity of published journal result with theories about market reaction
effect and company’s performance to ESOP.
Keywords: Option, Employee Stock
Ownership Program (ESOP), market reaction, company’s performance.
