Harvard Business Review

JUNE 3, 2011

on October 9, 2007. Assume both took the reins on January 1, 2007 and are still there. Using the S&P500 as a proxy, and setting the January 1, 2007 stock price at $100/share, Tom's share price at the beginning of each year is as follows: 2008 — $102; 2009 - $66; 2010 — $ 80; and 2011 — $90. 03 Jan 2007.

Black-Scholes 15

Black-Scholes CEO Price Bottom-up 15

Strategy Driven

MARCH 18, 2011

Each issue is packed with thought-provoking content and insight into the business issues that affect all companies competing in today’s technology-driven marketplace with recent contributions by best-selling author and researcher Tom Davenport; social media guru Chris Brogan; and Myron Scholes, world renowned economist and Nobel Prize winner.

Tools 56

Tools Black-Scholes Magazine Rogers 56

Harvard Business Review

DECEMBER 22, 2016

In the case of stock options, the EFV formula is typically a Black-Scholes-Merton option-pricing model that, rooted in the “efficient markets hypothesis,” assumes that changes in a company’s stock-price exhibit a log-normal distribution and thus predicts that most stock-price changes will be very small.

CEO 8

CEO Black-Scholes Price Merton 8