Report
Stock market reaction to financial statement certification by bank holding company CEOs
Hirtle, Beverly (2003)
In 2002, the Securities and Exchange Commission mandated that the chief executive officers of large, publicly traded firms certify the accuracy of their company financial statements. In this paper, I investigate whether CEO certification has had a measurable effect on the stock market valuation of the forty-two bank holding companies subject to the SEC order. I find that these firms experienced a positive average abnormal return of 30 to 60 basis points on the day of certification-a result driven primarily by those BHCs that certified ahead of the SEC's deadline. Characteristics associated ...
Staff Reports , Paper 170

Journal Article
Interview : Thomas Schelling
Steelman, Aaron (2005-04)
Econ Focus , Volume 9 , Issue Spr , Pages 36-41

Journal Article
Interview : Mickey Levy
Steelman, Aaron (2003-10)
Econ Focus , Volume 7 , Issue Fall , Pages 32-35

Journal Article
Interview: Robert Fogel
Steelman, Aaron (2007-01)
Econ Focus , Volume 11 , Issue Win , Pages 44-49

Journal Article
The insider trading debate
Noe, Thomas H.; Hu, Jie (1997-10-04)
Securities trading has generated some of the most sensational scandals in the popular business press. In one of the most publicized cases of insider trading, in the late 1980s Michael R. Milken and Ivan F. Boesky were sentenced to stiff prison terms and payment of enormous damage assessments and punitive penalties. However, at least among economists and legal scholars, insider trading remains a controversial economic transaction. A substantial body of academic and legal scholarship questions whether insider trading is even harmful, much less worthy of legal actions. ; The authors of this ...
Economic Review , Volume 82 , Issue Q 4 , Pages 34-45

Journal Article
Interview : Randall Kroszner
Steelman, Aaron (2004-01)
Econ Focus , Volume 8 , Issue Win , Pages 32-35

Journal Article
Federal Reserve : After Greenspan : choosing the next Chairman of the Federal Reserve
Foerster, Andrew T. (2005-10)
Econ Focus , Volume 9 , Issue Fall , Pages 2-4

Journal Article
Executive equity compensation and incentives: a survey
Larcker, David F.; Core, John E.; Guay, Wayne R. (2003-04)
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, research on stock-based compensation and incentives has not only generated useful insights, but also produced many contradictory findings. Not surprisingly, many fundamental questions remain unanswered. In this study, the authors synthesize the broad literature on equity-based compensation and executive ...
Economic Policy Review , Volume 9 , Issue Apr , Pages 27-50

Journal Article
Interview : Robert Litan
Steelman, Aaron (2003-01)
Econ Focus , Volume 7 , Issue Win , Pages 32-35

Journal Article
CEO compensation : trends, market changes, and regulation
Jarque, Arantxa (2008-07)
The average pay of a chief executive officer (CEO) in a top U.S. firm has increased six-fold in the last three decades. Simultaneously, the composition of pay has moved away from salary-based and increasingly toward performance-based compensation in the form of stock grants and stock option grants. This has strengthened the link between CEO pay and firm performance. Anecdotal evidence on the recent corporate fraud scandals suggests that some incentive problems remain unsolved. However, the academic literature reviewed in this article concludes that changes in market characteristics and the ...
Economic Quarterly , Volume 94 , Issue Sum , Pages 265-300