Replication Data for: Value-Based CEO Equity Grants

Replication Data for: "Value-Based CEO Equity Grants" by Jin Xu, Pengfei Ye, and Cheng Zhang

This package includes pseudo data and computer programs that illustrate how the key variables and empirical results of the article can be derived from actual raw data. Since the underlying data in this package represents a small sample of our total observations from 2006 to 2022 - with completely masked firm identities - the empirical results generated by this package are for demonstration purposes only and should not be interpreted as meaningful.

1)The firms in the pseudo data (Sample Data.dta) are randomly selected from those with complete annual data for the sample period (2006–2022), forming a panel dataset of 1,700 firm-year observations (100 firms × 17 years) for code execution.

2)The STATA file “Code for Main Text.do” contains the code to generate the key variables related to value-based equity grants and to produce the figures and tables in the main text of the article. It includes helpful comments to guide users through the steps.

3)The STATA file “Code for Internet Appendix.do” contains the code to generate the figures and tables in the internet appendix of the article. It includes helpful comments to guide users through the steps.