We investigate whether the firm's corporate governance affects the value of equity grants for its CEO. Consistent with the managerial power view, we find that more poorly governed firms grant higher values of stock options and restricted stock to their CEOs after controlling for the economic...

We investigate whether the firm's corporate governance affects the value of equity grants for its CEO. Consistent with the managerial power view, we find that more poorly governed firms grant higher values of stock options and restricted stock to their CEOs after controlling for the economic...

Managerial behavior differs considerably when managers report quarterly profits versus losses. When they report profits, managers seek to just meet or slightly beat analyst estimates. When they report losses, managers do not attempt to meet or slightly beat analyst estimates. Instead, managers...