Assuming a positive influence of stock price volatility on stock option value, incentive alignment proponents argue that stock option compensation encourages managerial risk seeking and, thus, aligns managers' and shareholders' risk preferences. Our findings show that stock option holders...

Scholars from multiple fields have shown increasing interest in the causes and consequences of mergers and acquisitions (Mamp;A). While this proliferation of research has the potential to significantly improve our understanding of Mamp;A activity, absent is the necessary step of consolidating...