Now showing items 1-2 of 2

    • R&D manipulation around SEOs and SEO valuations 

      Hull, Robert M. ; Kwak, Sungkyu ; Walker, Rosemary
      Prior research finds T&D reductions around SEOs are linked to insider ownership decreases. This suggests that insiders underinvest in R&D to inflate earnings so as to increase SEO value. We construct a variable that ...
    • SEO valuation and insider manipulation of R&D 

      Hull, Robert M. ; Kwak, Sungkyu ; Walker, Rosemary
      We examine a sample of 674 SEOs from 1999-2010 where reduced R&D spending is significantly associated with the lowering of insider ownership proportions. With this association established, we derive an R&D manipulation ...