During 1990-2017 there was substantial debate about the nature and extent of earnings management by companies included in popular stock indices (such as S&P-500, Nikkei-225, MSCI-1500 and DAX-100 companies). This article contributes to the literature by: i) providing evidence of, and surveys...

Although Alcoa had various and better strategic options, its strategy during 2010-2013 was sub-optimal and didn't result in sustainable growth. Alcoa's decisions and misconduct could have resulted in Deadweight Losses (in both the prices of Aluminium and in Alcoa's stock prices) and reduced...

During 2009-2015, Xerox, Inc. (“XRX”) operated in a very difficult environment characterized by mature products, technical insolvency, high perceived risk, low stock prices; failed acquisitions; apparent group-think; Managerial Entrenchment; apparent lack of coordination among Xerox's...

Contrary to established academic literature, the primary motive of corporate “Earnings Management” is not always manipulation of Net Income (EPS), but also is to change perceived corporate credit-risk, perceived asset-quality and expected growth; and to influence the sensitivity of managers...

This article analyzes some socio-legal, economic and taxation issues pertaining to Equity-Based Incentives (EBIs), and introduces new theories pertaining to optimal taxation of two classes of EBIs (incentive and compensatory EBIs). The article then develops the quantitative characteristics of...