Does backdating explain the stock price pattern around
Olin Center for Law, Economics, and Business, and the Harvard Law School Program on Corporate Governance.
In particular, CPS is correlated with lower (industry-adjusted) accounting profitability, lower stock returns accompanying acquisitions announced by the firm and higher likelihood of a negative stock return accompanying such announcements, higher odds of the CEO receiving a lucky option grant at the lowest price of the month, lower performance sensitivity of CEO turnover, and lower stock market returns accompanying the filing of proxy statements for periods when CPS increases.
Taken together, our results are consistent with the hypothesis that higher CPS is associated with agency problems and indicate that CPS can provide a useful tool for studying the performance and behavior of firms.).
Gallen, the University of Southern California, the New York University, the University of Zurich–University of Pennsylvania Law and Finance conference, the annual Conference on Finance and Accounting 2007, the third Annual Conference on Empirical Legal Studies at Cornell Law School in 2007, the conference on Corporate Governance at Washington University in St.
Louis, the American Finance Association annual meeting, the American Law and Economics Association annual meeting, the Conference on Corporate Governance Research at Drexel University, and the National Bureau of Economic Research Corporate Finance meeting.
The unit had an advertised battery life of 50 hours, and thus appealed to mountainous hikers and runners alike. I’ve spent the past three months with the device – day in and day out, getting to know it. So sit back, grab a cup of coffee or twelve, and get ready to get detailed.