...Fang Sun; Xiangjing Wei Purpose In this paper, the impact of stock-based compensation and further the joint effects of stock-based compensation and investor sentiment on pension discount rate choice is examined. Design/methodology/approach The hypotheses is tested using fixed effects models...

...Fang Sun; Xiangjing Wei Purpose The purpose of this paper is to examine how investor sentiment, proxied by Michigan consumer confidence index, affects the choice of defined benefit pension plan discount rates. Design/methodology/approach The authors use multivariate analysis to test our...