The concern that out-of-the-money stock options are not an effective way to motivate managers has led boards of directors to consider measures such as lowering the exercise price of underwater options, or issuing new option grants, to restore the incentive managers have to increase shareholder...

Firms' matching contributions to employees' defined contribution pension plans are an important spur to employee retirement savings. Firms frequently match employees' defined contribution pension plan using company stock and prohibit employees from selling; employees sometimes voluntarily invest...

This paper is intended as a risk management primer for senior managers. It discusses the integrated risk management framework, emphasizing the connections between the three fundamental ways a company can implement its risk management objectives: modifying the firm's operations, adjusting its...