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Is backdating executive stock options always costly to shareholders?

Author

Listed:
  • Philippe Grégoire
  • Robert Glenn Hubbard
  • Michael F. Koehn
  • Marc Van Audenrode
  • Jimmy Royer

Abstract

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Suggested Citation

  • Philippe Grégoire & Robert Glenn Hubbard & Michael F. Koehn & Marc Van Audenrode & Jimmy Royer, 2013. "Is backdating executive stock options always costly to shareholders?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 53(3), pages 667-689, September.
    • Handle: RePEc:bla:acctfi:v:53:y:2013:i:3:p:667-689
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    File URL: http://hdl.handle.net/10.1111/j.1467-629X.2012.00487.x
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    References listed on IDEAS

    as
    1. Lambert, Ra & Larcker, Df & Verrecchia, Re, 1991. "Portfolio Considerations In Valuing Executive-Compensation," Journal of Accounting Research, Wiley Blackwell, vol. 29(1), pages 129-149.
    2. Yermack, David, 1997. "Good Timing: CEO Stock Option Awards and Company News Announcements," Journal of Finance, American Finance Association, vol. 52(2), pages 449-476, June.
    3. Carow, Kenneth & Heron, Randall & Lie, Erik & Neal, Robert, 2009. "Option grant backdating investigations and capital market discipline," Journal of Corporate Finance, Elsevier, vol. 15(5), pages 562-572, December.
    4. Bernile, Gennaro & Jarrell, Gregg A., 2009. "The impact of the options backdating scandal on shareholders," Journal of Accounting and Economics, Elsevier, vol. 47(1-2), pages 2-26, March.
    5. repec:aei:rpaper:49975 is not listed on IDEAS
    6. Lucian A. Bebchuk & Yaniv Grinstein & Urs Peyer, 2010. "Lucky CEOs and Lucky Directors," Journal of Finance, American Finance Association, vol. 65(6), pages 2363-2401, December.
    7. Chauvin, Keith W. & Shenoy, Catherine, 2001. "Stock price decreases prior to executive stock option grants," Journal of Corporate Finance, Elsevier, vol. 7(1), pages 53-76, March.
    8. Aboody, David & Kasznik, Ron, 2000. "CEO stock option awards and the timing of corporate voluntary disclosures," Journal of Accounting and Economics, Elsevier, vol. 29(1), pages 73-100, February.
    9. Heron, Randall A. & Lie, Erik, 2007. "Does backdating explain the stock price pattern around executive stock option grants?," Journal of Financial Economics, Elsevier, vol. 83(2), pages 271-295, February.
    10. Huddart, Steven, 1994. "Employee stock options," Journal of Accounting and Economics, Elsevier, vol. 18(2), pages 207-231, September.
    11. Erik Lie, 2005. "On the Timing of CEO Stock Option Awards," Management Science, INFORMS, vol. 51(5), pages 802-812, May.
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