Minnick, Kristina; Rosenthal, Leonard - In: Journal of Corporate Finance 25 (2014) C, pp. 435-454
Companies can increase executive compensation by allowing dividends to be paid on unvested restricted stocks grants, also known as stealth compensation. Examining all S&P 500 firms over the period 2003–2007, we find that more than half of the dividend paying firms allow this practice. We look...