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ESOPs and New Product Launch: Conditional Effects of Financial Slack and Ownership Concentration

Lookup NU author(s): Dr Saurabh BhattacharyaORCiD



This is the authors' accepted manuscript of an article that has been published in its final definitive form by World Scientific Publishing Co. Pte Ltd, 2020.

For re-use rights please refer to the publisher's terms and conditions.


© 2020 World Scientific Publishing Europe Ltd. Basing on risk propensity and cognitive evaluation theory, this study explores the relationship between stock options and new product launch. A study based on archival data of 273 group affiliated Indian firms for 3 years demonstrates that the rate of new product introduction is a function of stock options provided to employees. Furthermore, ownership concentration of business groups and financial slack moderate this relationship.

Publication metadata

Author(s): Agnihotri A, Bhattacharya S

Publication type: Article

Publication status: Published

Journal: International Journal of Innovation Management

Year: 2020

Volume: 24

Issue: 03

Print publication date: 01/04/2020

Online publication date: 23/04/2019

Acceptance date: 02/04/2018

Date deposited: 22/06/2019

ISSN (print): 1363-9196

ISSN (electronic): 1757-5877

Publisher: World Scientific Publishing Co. Pte Ltd


DOI: 10.1142/S1363919620500218


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