Larcker, David F.; McCall, Allan L.; Ormazabal, Gaizka - In: Journal of Accounting and Economics 56 (2013) 2, pp. 149-169
This paper examines the economic consequences associated with the board of director’s choice of whether to adhere to proxy advisory firm policies in the design of stock option repricing programs. Proxy advisors provide research and voting recommendations to institutional investors on issues...