Which One of the Following Statements Is Correct

Which one of the following statements is correct?

A) The market reaction to employee stock option plans (ESOPs) is typically negative, suggesting that employee stock ownership destroys firm value.
B) ESOPs also generate tax benefits and this makes it more difficult to assess the benefits arising from employee stock ownership.
C) Studies on the market reaction to ESOPs find either positive or insignificant abnormal returns.
D) Statements B and C are correct.