CEU Electronic Theses and Dissertations, 2025
| Author | Ahmadova, Fidan |
|---|---|
| Title | Stock Options in and for Emerging Capital Markets: What could be Transplanted from the United States |
| Summary | This thesis examines the potential role of stock options in emerging markets, focusing on their use as an incentive for company officers and employees, as well as their investment implications. While jurisdictions like the United States (U.S.), especially at the state level, have developed well-established regulatory frameworks governing stock options , many emerging capital markets, including Azerbaijan, lack clear legal structures for their effective implementation. The U.S. thus serves as one of the most tested and instructive jurisdictions in this field. The advantages and challenges of implementing legal transplants of the U.S. stock option regulatory frameworks in Azerbaijan are examined in this thesis. Therefore, the main research question of this thesis is how Azerbaijan could introduce and effectively regulate stock options and their uses by transplanting and adapting the relevant laws and best practices from the U.S. The study further addresses how stock options can function as effective tools for incentivizing employees in emerging markets. It offers policy recommendations for Azerbaijani lawmakers and businesses aiming to implement a regulatory model that balances market development with employee protection. The research combines legal and economic perspectives and contributes to broader discussions on equity compensation, innovation, and talent retention in developing economies. In addition, the thesis considers the legal structure of stock option compensation plans, including the protective role of shareholder ratification, except in cases where the size of such plans constitutes corporate waste. Ultimately, the thesis aims to provide implementable guidance for legislative reform regarding stock options in Azerbaijan. |
| Supervisor | Tibor Tajti |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2025/ahmadova_fidan.pdf |
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