3Black, F. and M. Scholes. The pricing of options and corporate liabilities. [ J] Journal of political economy. 1973, 81 : 637 - 659
4Jensen, M. C. and Murphy, K. J. , Performance pay and top management incentives, [ J] Journal of political economy, 1990, 98 : 225 - 264
5Yermack, D. Do corporation award CEO stock options effectively? [ J] Journal of financial economics. 1995, 39 : 237 - 289
6Lambert, R. A. Lanen, D. Executive stock option plan and corporate dividend policy. [ J] Journal of financial and quantitative analysis, 1989, 24 : 409 - 425
6Lee,B.-S.Causal Relations among Stock Returns,Interest rates,Real Activity,and Inflation.Journal of Finance,1992,(47):1591-1603.
7Kaneko,T.,Lee,B.-S.Relative Importance of Economic Factors in the US and Japanese Stock Markets.Journal of the Japanese and International Economies,1995,(9):290-307.
8Martinez,M.A.,Rubio,G.Arbitrage Pricing with Macroeconomic Variables:An Empirical Investigation Using Spanish Data.Universidad del Pais Vasco Working Paper,1989.
9Poon,S.,Taylor,S.J.Macroeconomic Factors and the U.K.Stock Market.Journal of Business Finance and Accounting,1991,(18):619-636.
10Binswanger,M.Stock Market Booms and Real Economic Activity:Is This Time Different? International Review of Economics Finance,2000,(9):387-415.
