{"id":"https://openalex.org/W4235794774","doi":"https://doi.org/10.1017/s0022109000003215","title":"Executive Loans","display_name":"Executive Loans","publication_year":2004,"publication_date":"2004-12-01","ids":{"openalex":"https://openalex.org/W4235794774","doi":"https://doi.org/10.1017/s0022109000003215"},"language":"en","primary_location":{"id":"doi:10.1017/s0022109000003215","doi":"https://doi.org/10.1017/s0022109000003215","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109000003215","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5037283752","display_name":"Kathleen M. Kahle","orcid":"https://orcid.org/0000-0002-8482-3527","observed_orcids":["https://orcid.org/0000-0002-8482-3527"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Kathleen M. Kahle","raw_affiliation_strings":[""],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5035714277","display_name":"Kuldeep Shastri","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Kuldeep Shastri","raw_affiliation_strings":[""],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":3550,"currency":"USD","value_usd":3550},"apc_paid":null,"fwci":7.3765,"has_fulltext":false,"cited_by_count":33,"citation_normalized_percentile":{"value":0.9725266,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"39","issue":"4","first_page":"791","last_page":"811"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/executive-stock-ownership","display_name":"executive stock ownership","score":0.8650000095367432},{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":0.6729999780654907},{"id":"https://openalex.org/keywords/managerial-ownership","display_name":"managerial ownership","score":0.5040000081062317}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7625634670257568},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.6070554852485657},{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.6058869361877441},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.5806437134742737},{"id":"https://openalex.org/C2779019381","wikidata":"https://www.wikidata.org/wiki/Q3499564","display_name":"Relocation","level":2,"score":0.5690377950668335},{"id":"https://openalex.org/C2778813691","wikidata":"https://www.wikidata.org/wiki/Q1369832","display_name":"Purchasing","level":2,"score":0.5366501212120056},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.45808497071266174},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.11348363757133484},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1017/s0022109000003215","doi":"https://doi.org/10.1017/s0022109000003215","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s0022109000003215","pdf_url":null,"source":{"id":"https://openalex.org/S193228710","display_name":"Journal of Financial and Quantitative Analysis","issn_l":"0022-1090","issn":["0022-1090","1756-6916"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1","ft50","jufo-3","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Financial and Quantitative Analysis","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":10,"referenced_works":["https://openalex.org/W1551622374","https://openalex.org/W1606272114","https://openalex.org/W1979927021","https://openalex.org/W1991795148","https://openalex.org/W2126725648","https://openalex.org/W2150162166","https://openalex.org/W2752617332","https://openalex.org/W3121693921","https://openalex.org/W3123533853","https://openalex.org/W3124752310"],"related_works":["https://openalex.org/W3020986733","https://openalex.org/W2026560486","https://openalex.org/W7213330012","https://openalex.org/W4254233766","https://openalex.org/W2126725648","https://openalex.org/W7100188358","https://openalex.org/W2605085486","https://openalex.org/W1505801294","https://openalex.org/W1594603407","https://openalex.org/W7096983747"],"abstract_inverted_index":{"Abstract":[0],"This":[1],"paper":[2],"analyzes":[3],"the":[4,131],"characteristics":[5],"and":[6,18,36,84,100,136],"impact":[7],"of":[8,46,119],"loans":[9,23,64,75,139],"made":[10,24],"to":[11,25,67,78,115],"executives":[12,27],"for":[13,143],"stock":[14,30,62,94,98,120,137],"purchase,":[15],"option":[16,73,101],"exercise,":[17],"relocation.":[19],"We":[20,57],"find":[21,59],"that":[22,60,92,111],"assist":[26],"in":[28,122,128],"purchasing":[29],"or":[31],"exercising":[32],"options":[33],"are":[34,49,65,76],"larger":[35],"have":[37],"higher":[38],"interest":[39,53],"rates":[40],"than":[41],"relocation":[42],"loans.":[43,103],"All":[44],"types":[45],"loans,":[47],"however,":[48],"issued":[50],"at":[51],"below-market":[52],"rates,":[54],"on":[55],"average.":[56],"also":[58],"while":[61],"purchase":[63,99,138],"given":[66,77],"managers":[68,79,105],"with":[69,80],"low":[70,144],"existing":[71,82],"ownership,":[72],"exercise":[74,102],"high":[81,85],"ownership":[83,95,134,145],"cash":[86],"compensation.":[87],"Finally,":[88],"our":[89],"results":[90,121],"indicate":[91],"executive":[93],"increases":[96],"following":[97],"For":[104],"as":[106],"a":[107,109,113],"whole,":[108],"loan":[110],"enables":[112],"manager":[114],"buy":[116],"100":[117],"shares":[118],"only":[123],"an":[124],"eight":[125],"share":[126],"increase":[127],"ownership.":[129],"However,":[130],"relation":[132],"between":[133],"changes":[135],"is":[140],"much":[141],"stronger":[142],"managers.":[146]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":7},{"year":2017,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2022-05-12T00:00:00"}