Reviews previous research on the timing of employee stock option exercise decisions and share price performance before and after insider trading. Analyses the 1992‐1993 exercise behaviour of top executives at 65 large US firms using the Black‐Scholes (1973) value (less anticipated dividends)...

Outlines previous research on the role of executive compensation contracts in reducing conflicts of interest between ownership and control; and develops hypotheses on the effects of chief executive officer stock options and share ownership on subsequent firm performance. Suggests that since...

Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development. Tests these models on 1987‐1992 US data and compares them with predictions based on current return on equity....

Outlines the role of the conservatism inherent in generally accepted accounting principles in Ohlson’s (1995) and Feltham and Ohlson’s (1995) valuation models and compares it with other research findings. Identifies potential sources of conservatism (e.g. expensing advertising costs,...

Outlines the valuation models of Ohlson (1995) and Feltham and Ohlson (1995), which relate share prices to accounting data, and develops a version which substitutes net value added for earnings. Tests it on 1978‐1995 US data and shows that it is better than the conventional model at explaining...

Relates Adam Smith’s invisible hand to present day globalization and considers the impact of US trade and economic sanctions on the world economy. Discusses the political roots of these sanctions, their objectives (both overt and covert), costs and incompatibility with free trade. Puts forward...