The impact of the options backdating scandal on shareholders

• المؤلفون الرئيسيون: BERNILE, Gennaro, Jarrell, Gregg
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2009
• الموضوعات: Agency costs; Event-study; Option backdating; Corporate scandal; Accounting; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/3664; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4663/viewcontent/SSRN_id971137.pdf
• المؤسسة: Singapore Management University

The revelation that scores of firms engaged in the illegal manipulation of stock options’ grant dates (i.e. “backdating”) captured much public attention. The evidence indicates that the consequences stemming from management misconduct and misrepresentation are of first-order importance in this conte...