Abstract

The Point of View position paper in California Management Review’s Summer 2006 issue by Kip Hagopian ["Expensing Employee Stock Options Is Improper Accounting," Vol. 48, No. 4] has generated considerable media attention as well as public debate. We are pleased to publish four comments that we have received in response to Hagopian's essay, along with his reply to them. (The comments are from: George J. Staubus, Haas School of Business, University of California, Berkeley; Benjamin E. Hermalin, Haas School of Business, University of California, Berkeley; George J. Benston, Goizueta Business School, Emory University; and Joshua Ronen, Stern School of Business, New York University.)