Valuing Employee Stock Options Part 9 ppsx
Valuing Employee Stock Options Part 1 pptx
... Points 11 5
Appendix 8A—Binomial, Trinomial, and
Multinomial Lattices 11 5
CHAPTER 9
The Model Inputs 11 9
Stock and Strike Price 11 9
Time to Maturity 12 0
Risk-Free Rate 12 0
Dividend Yield 12 1
Volatility ...
valuation result. 15 3
Figure 10 A .1 ESO Toolkit main index. 15 9
Figure 10 A.2 Input parameters. 16 0
Figure 10 A.3 Intermediate calculations. 16 0
Figure 10 A.4...
Valuing Employee Stock Options Part 3 pptx
... 10.00% 1.00% 8.00% 3. 50%
Average 5.50% 5.50% 5.50% 5.50% 5.50%
BSM using 5.50% $37 .45 $37 .45 $37 .45 $37 .45 $37 .45
Average Rate
Forfeiture Modified $33 .71 $33 .71 $33 .71 $33 .71 $33 .71
BSM using 5.50%
Average ... $39 .94 –5.24% $41.47 –2.20% $47.67 –2.86%
2% $37 .84 –5.27% $40.55 –2.22% $46.29 –2.89%
3% $35 . 83 –5 .30 % $39 .65 –2.24% $44.94 –2.92%
4% $33 .92 –5 .33 % $38 .75 –2.26...
Valuing Employee Stock Options Part 4 pptx
... 52.67% 46 .48 % 42 .56% 40 .60% 39.20% 38.21% 37.50% 37.15% 36.86% 36.63%
Forfeiture (40 .00%) 53. 24% 47 . 34% 43 . 64% 41 .80% 40 .49 % 39.57% 38.92% 38.60% 38. 34% 38. 14%
44
ccc_mun_ch 04_ 41-50.qxd 8/20/ 04 9:21 ... 50.52% 43 .31% 38.66% 36.29% 34. 57% 33.33% 32 .42 % 31.96% 31.59% 31.28%
Forfeiture (25.00%) 51.32% 44 .48 % 40 .09% 37.86% 36.25% 35.10% 34. 26% 33. 84% 33 .49...
Valuing Employee Stock Options Part 5 doc
... (8.00) $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 $50 .48 8
Years (9.00) $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 $53 .55 9
Years (10.00) $56 .39 ... 1.8198 1 .54 37
1 .59 85 1.8281 1.7007 1 .58 66 1.9916
1.9239 1.9774 1.6696 1.8138 1.77 25
1. 650 8 1 .59 92 1 .54 72 1.9813 1.8764
1.8181 1.8397 2. 059 4 1 .53 78 1.6...
Valuing Employee Stock Options Part 7 docx
... )
()
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σ
σ
σ
σ
σ
σ
σ
22
22
22
22
σσ
T
77
ccc_mun_ch 07_ 77- 82.qxd 8/20/04 9:23 AM Page 77
PART
Two
Technical Background
of the Binomial Lattice
and Black-Scholes Models
ccc_mun_pt2 _75 -76 .qxd 8/20/04 9:22 AM Page 75
different ... real-life ESOs.
Brief Technical Background 81
ccc_mun_ch 07_ 77- 82.qxd 8/20/04 9:23 AM Page 81
ccc_mun_pt2 _75 -76 .qxd 8/20/04 9:22 AM...
Valuing Employee Stock Options Part 8 doc
... σδ
δ
===
=
−
−
−
−
1
88 BACKGROUND OF THE BINOMIAL LATTICE AND BLACK-SCHOLES MODELS
ccc_mun_ch 08_ 83-1 18. qxd 8/ 20/04 9:24 AM Page 88
ple provides a much more accurate view of the true nature of the stock
market, ... non-dividend-paying stocks and/or
bonds and replicate the payout of the first portfolio of dividend-paying
Binomial Lattices in Technical Detail 87
ccc_mun_ch 08_ 83-1...
Valuing Employee Stock Options Part 9 ppsx
... δ
S
S
tt=
()
+
1 19
ccc_mun_ch 09_ 1 19- 130.qxd 8/20/04 9: 25 AM Page 1 19
where a percent change in the variable S or stock price denoted
is simply a combination of a deterministic part (µ(δt)) and a stochastic part
. ... MODELS
ccc_mun_ch 09_ 1 19- 130.qxd 8/20/04 9: 25 AM Page 126
CHAPTER
9
The Model Inputs
STOCK AND STRIKE PRICE
The stock price required for the ESO valuat...
Valuing Employee Stock Options Part 10 pdf
... $45.17 $45.17 $45.17 $45.17 $45.17 $45.17 $45.17 $45.17 $45.17 $45.17
Maturity 10 10 10 10 10 10 10 10 10 10 10 10 10 10
Risk-Free Rate 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% 1.21% ... 9,566,052.74 $ 10, 737,306.72 $ 10, 151,679.73
February $ 9,719,311.21 $ 10, 911,406.31 $ 10, 315,358.76
March $ 9,872,590.87 $ 11,085,484.73 $ 10, 479,07.80
April $ 10, 025,8...
Valuing Employee Stock Options Part 11 pdf
... $16.79
$6.62 $9.69 $11. 80 $12.96 $13.59 $14.08 $14.44 $14.72 $14.92 $15.03
$6.35 $9 .11 $10.93 $11. 90 $12.42 $12.81 $13 .11 $13.33 $13.49 $13.58
$6 .11 $8.60 $10.18 $11. 00 $11. 44 $11. 76 $12.00 $12.18 ... $10.31 $10.69 $11. 16 $11. 29 $11. 53 $11. 72 $11. 81 $11. 95
Stock Price and Strike Price of $40, Maturity of 5 Years, Risk-Free Rate of 3.5%, 70% Volatility, 0% Dividends, Vesting...
Lập Trình C# all Chap "NUMERICAL RECIPES IN C" part 9 ppsx
... promoted in his place, and he joins the production line.
8.3 Heapsort
337
Sample page from NUMERICAL RECIPES IN C: THE ART OF SCIENTIFIC COMPUTING (ISBN 0-521-43108-5)
Copyright (C) 198 8- 199 2 by ... 336
Chapter 8. Sorting
Sample page from NUMERICAL RECIPES IN C: THE ART OF SCIENTIFIC COMPUTING (ISBN 0-521-43108-5)
Copyright (C) 198 8- 199 2 by Cambridge University Press.Programs...
Thủ Thuật Windows Office part 9 ppsx
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Sequential Verulog Topics part 9 ppsx
... would consider design constraints such as
timing, area, testability, and power. The designer would partition the design into
high-level blocks, draw them on a piece of paper or a computer terminal, ... represent the second generation of Verilog PLI. Access
routines can read and write information about a particular object from/to the
design. Access routines start with the prefix acc_. Acce...
Erosion control in the tropics - Part 9 ppsx
... underestimated.
Erosion control in the tropics 76
9. 2 Awareness
Only if people appreciate the usefulness of the operations to be carried
out, will they be inclined to take them up themselves. They should ... concerned or the well-intentioned development worker ei-
ther. Sometimes the causes can only be tackled by political influence
among the people themselves, a...
Configuring Windows 7 (Training Kit) - Part 9 ppsx
... x86_Microsoft -Windows-
International-Core-WinPE_
6-1 .<build>_neutral
InputLocale = en-US
SystemLocale = en-US
UILanguage = en-US
UserLocale = en-US
WindowsPE x86_Microsoft -Windows-
Setup_ 6-1 .<build>_neutral
EnableFirewall ... enables
hands-free installation of a WIM image?
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Windows SIM
Windows AIK Tools
Table 2-1 lists the tools included wi...