Option Backdating And Board Interlocks 1763


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Suggested Citation. John Bizjak & Michael Lemmon & Ryan Whitby, 2009. "Option Backdating and Board Interlocks," Review of Financial Studies, Society for Financial Studies, vol. 22(11), pages 4821-4847, November.

Keywords: corporate governance, board of directors, stock options, backdating. Suggested Citation: Suggested Citation. Bizjak , John M. and Lemmon, Michael L. and Whitby, Ryan J., Option Backdating and Board Interlocks (February 1, 2007).

The increase in the likelihood that a firm begins to backdate stock options that can be explained by having a board member who is interlocked to a previously identified backdating firm is approximately one-third of the unconditional probability of backdating in our sample.

Option backdating and board interlocks. Review of Financial Studies (forthcoming). Bonacich, P., 1972. What do returns to acquiring firms tell us? Evidence from firms that make many acquisitions. The Journal of Finance 57, 1763-1793.

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Disclosure policy Board interlocks Board networks Social networks Earnings guidance Corporate governance. JEL Classification. G34 M41. Bizjak, J., Lemmon, M., & Whitby, R. (2009). Option backdating and board interlocks.

Options backdating is the practice of altering the date a stock option was granted, to a usually earlier (but sometimes later) date at which the underlying stock price was lower. This is a way of repricing options to make them valuable or more valuable when the option "strike price"...

The evidence on the higher frequency of stock option backdating in board-interlocked firms (Bizjak et al. Board Interlocks and Earnings Management Contagion 921 The Accounting Review May 2013 exposed to earnings management activities.

Among many other insights, GLB allows subscribers to identify corporate interlocks, such as directors serving on multiple boards together. The spread of option backdating. Interlocks Enable Golden Perks.

Options backdating is the process of granting an option that is dated prior to the actual issuances of the option. This process occurred when companies were only required to report the issuance of stock options to the SEC within two months of the grant date.

Bizjak J, Lemmon M, Whitby R (2009) Option backdating and board interlocks. Cai Y, Dhaliwal D, Kim Y, Pan C (2014) Board interlocks and the diffusion of disclosure policy. Rev Account Stud 19:1086-1119. doi: 10.

2003. Back to the beginning: persistence and the cross‐section of corporate capital structure. 2010. Option backdating and board interlocks. J Bizjak, M Lemmon, R Whitby. The Review of Financial Studies 22 (11), 4821-4847, 2009.

Contrary to the findings of Bizjack, Lemmon, and Whitby (2009), our results reveal that this "invisible" practice did not diffuse through board interlocks. Rather, stock backdating spread through geographic proximity: firms were more likely to backdate stock options to the extent that other firms located...
Кадры из фильма : The spatial diffusion of an invisible corporate practice: Revisiting stock...