Erik Lie Presents Research on Backdating
Bookmark & ShareJanuary 13, 2008
Source: Washington Times
Reporting about the American Economics Association meeting, columnist Alfred Tella wrote, "Randall Heron of Indiana University and ERIK LIE of the University of Iowa investigated the extent of backdating of stock option grants to top executives. The authors estimated 13.6 percent of grants between 1996 and 2005 were backdated or manipulated, with the fraction 'highest for unscheduled at-the-money grants, and among firms that are small, operate in the tech sector, and have high stock price volatility.' They found that the 'incidence of backdating was more than halved as a result of the two-day filing requirement that took effect on Aug. 29, 2002, but it remains high for grants that are filed late.'"
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