Software giant PeopleSoft ( PSFT) said it won't change the way it treats stock options on its financial statements, arguing that making them a compensation expense would stifle innovation.

The Pleasanton, Calif., company joins Intel ( INTC) among high-profile technology companies that have refused to adopt the new accounting. Coca-Cola ( KO) and Washington Post ( WPO), among others, have said they would expense options.

"Expensing stock options will discourage companies from using them as incentives for innovation," PeopleSoft said. "In a competitive global economy, innovation and the creation of shareholder value have helped the U.S. maintain its economic leadership."

PeopleSoft said it would continue using the intrinsic value method of valuing options, under which companies traditionally disclose their option expense as a footnote in quarterly filings.