Publications

A Comparative Analysis of Start-up Equity-Based Compensation: Does Law Matter?

This study compares local policies and regulations related to equity-based compensation in startups, with a specific focus on early-stage employee participation in equity ownership. We analyze a comprehensive dataset of nearly 3,300 early-stage …

The RSU Timebomb

In the dynamic realm of Silicon Valley, restricted stock units (RSUs) have emerged as a ticking timebomb for employees in private tech companies. These double-trigger RSUs hold the promise of future stock shares contingent upon meeting specific …

All That Glitters is Not Gold: Conjoint Analysis of Start-up Equity-Based Compensation Arrangements

Venture capital-backed startups heavily rely on equity-based compensation to attract and retain talent. However, since the securities of these companies are not actively traded, it is unclear how much these grants are worth. The disclosure …