Step 1: Grasping the event. When light of adequate frequency impinges on a metal and liberates electrons, the phenomenon is termed photoelectron emission. Step 2: Naming the effect. This light-induced ejection of electrons is known as the photoelectric effect. Step 3: Ruling out other phenomena. The Compton effect involves X-ray scattering; the Stark effect describes spectral line splitting in an electric field; the Zeeman effect occurs in a magnetic field. Step 4: Conceptual clarity. Only the photoelectric effect entails electron release from a metal via incident radiation. Step 5: Final deduction. Therefore, the correct choice is the photoelectric effect.