Einblicke
Stock-Based Compensation
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Consilient Observer
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April 18, 2023
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Stock-Based Compensation
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April 18, 2023
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Stock-Based Compensation
Stock-Based Compensation |
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Unpacking the Issues
- U.S. companies are increasingly paying employees with stock-based compensation (SBC) rather than cash, with SBC rising to $270 billion in calendar year 2022, according to our analysis.
- We begin by giving data showing overall trends, then turn to the accounting issues, and wrap up by evaluating the strengths and weaknesses of SBC and whether this shift is achieving its objectives.
- Ongoing shareholders typically realize more dilution with young companies than with old ones because SBC tends to be more significant for young companies, whereas stock buybacks are generally more modest for small companies.
- Research is equivocal on the benefits commonly cited for SBC, which include it being an incentive for employees to deliver results, a tool for retaining workers, and a means to foster an overall sense of ownership.
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Das Counterpoint Global Team ist bestrebt, langfristige Investitionen in einzigartige Unternehmen zu tätigen, deren Marktwert aus fundamentalen Gründen deutlich steigen kann. Ihre Portfolios sind in der Regel konzentriert und unterscheiden sich von ihren Benchmarks. Das Team besteht aus 26 Personen, darunter 16 Investment-Profis und zwei Disruptive Change-Forscher. Die Kultur des Teams fördert Zusammenarbeit, Kreativität, eine kontinuierliche Entwicklung und differenziertes Denken.
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