By 2007, executive compensation at U.S. companies had become an extremely contentious topic. Reports in the press of multi-million dollar pay packages - in the form of stock option exercises, severance packages, and retirement payouts - led to an outcry among many investors that compensation...

In 2003, the board of directors of GDF decided to initiate a thorough search process to replace its existing CEO. GDF Corp was a leader in the telecommunications industry, offering network equipment and enterprise solutions to a broad range of customers around the world. The company's business...

By 2007, Gretchen Morgenson, assistant editor and columnist at The New York Times, had gained significant attention from business leaders, regulators, and academics for her coverage of a wide range of financial and governance issues. Morgenson wrote the majority of her articles about corporate...

In 2006, David Zucker, chief executive officer of Midway Games, came under fire for selling a significant amount of Midway stock just weeks before a precipitous decline in the company's share price. One year later, Angelo Mozilo, chairman and chief executive officer of Countrywide Financial,...

In 2007, Institutional Shareholder Services (ISS) was the largest proxy advisory company in the world, with over 1,700 institutional clients managing an estimated $25 trillion in equity securities. The ISS proxy advisory services were intended to give shareholders greater influence over the...

In 2005, Relational Investors, a registered investment advisor, launched a proxy contest to gain two seats on the board of directors of Sovereign Bancorp. Relational accused Sovereign of operational mismanagement and poor corporate governance, representing a breach in fiduciary responsibility by...

Following the revelation that the Royal Dutch/Shell Group of Companies had overstated its proved oil reserves by over 4 billion barrels, company officials announced dramatic changes to the company's organizational structure and governance system. These changes were intended to improve management...

Stock and option compensation and the level of managerial equity incentives are aspects of corporate governance that are especially controversial to shareholders, institutional activists, and government regulators. Similar to much of the corporate finance and corporate governance literature,...

<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>This study examines whether Chief Executive Officer (CEO) equity-based holdings and compensation provide incentives to manipulate accounting reports. While several prior studies have examined this important question, the empirical evidence is mixed and the existence of a link between CEO...