Executive Stock Options and IPO Underpricing Michelle Lowry• Smeal College of Business Penn State University E-mail: mlowry@psu.edu Phone: (814) 865-1483 Kevin J. Murphy Marshall School of Business University of Southern California E-mail: kjmurphy@usc.edu Phone: (213) 740-6553 July 31‚ 2006 Abstract In about one-third of US IPOs between 1996 and 2000‚ executives received stock options with an exercise price set equal to the IPO offer price (rather than a price determined by the market)
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SUBJECT: Organization Behavior Case-1- A WINDOW ON LIFE For Gilbert La Crosse‚ there is nothing quite as beautiful as a handcrafted wood-framed window. La Crosse’s passion for windows goes back to his youth in Eau Claire‚ Wisconsin‚ where he learned from an elderly carpenter how to make residential windows. He learned about the characteristics of good wood‚ the best tools to use‚ and how to choose the best glass from local suppliers. La Crosse apprenticed with the carpenter in his small workshop
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Finance 32‚ 663-682. Beebower‚ Gilbert L. and Gary L. Bergstrom‚ 1977‚ A performance analysis of pension and profit-sharing portfolios: 1966-75‚ Financial Analysts Journal 33‚ (May/June)‚ 31-42. Berkowitz‚ Stephen A.‚ Louis D. Finney‚ and Dennis E. Logue‚ 1988‚ The Investment Performance of Corporate Pension Plans (Quorum Books‚ New York‚ NY). Bernard‚ Victor L. and Jacob K. Thomas‚ 1989‚ Post-earnings-announcement drift: Delayed price response or risk premium?‚ Journal of Accounting Research 27 (Supplement)
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England‚ Charlotte and her sister are inspired by the Romantic authors (par. 1). Wikipedia states that Charlotte Bronte manages to write important works even though she encounters many difficulties‚ obstacles‚ and prejudices. Charlotte is also one sof the most talented
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OPERATIONAL STUDIES www.operationalstudie.com Copyright © 2007 Targeted Killing: Self-Defense‚ Preemption‚ and the War on Terrorism By Thomas B. Hunter April 29‚ 2005 Introduction This essay will endeavor to examine the concept of ‘targeted killing’ in the international war against terrorism by assessing the norms states employ in justifying the offensive use of force in countering the threats posed by individuals involved in terrorist activity against the state. Specifically‚ due to the asymmetric
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How is foreign exchange risk managed? An empirical study applied to two Swiss companies. Abstract This paper investigates how two Swiss companies manage their foreign exchange risk and compares the results to theoretical findings and to previous empirical research. We find significant differences in the foreign exchange risk management policies‚ notably in the choice of the type of exposure to cover and in the hedging instruments used. Consistent with previous research‚ forwards
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MODULE 02 NOTES History of the NCO Evolution of the NCO Insignia Overview The NCO insignia evolved through the years from a variety of shapes‚ styles‚ and colors to the chevrons worn today. Sometimes changes in uniform style and colors dictated changes in the style and color of the chevrons. The history of the insignia is complex and often confusing. In some cases‚ no official records survived to document the use of certain insignia. Many times‚ the vagueness of official records resulted in conflicting
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NAVAL POSTGRADUATE SCHOOL Monterey‚ California THESIS HIGH ALTITUDE WARFARE: THE KARGIL CONFLICT AND THE FUTURE by Marcus P. Acosta June 2003 Thesis Advisor: Second Reader: Peter Lavoy Douglas Porch Approved for public release‚ distribution is unlimited THIS PAGE INTENTIONALLY LEFT BLANK REPORT DOCUMENTATION PAGE Form Approved OMB No. 0704-0188 Public reporting burden for this collection of information is estimated to average 1 hour per response‚ including the time for reviewing
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Additional Cases for the Course The case readings have been developed solely as a basis for class discussion. The case readings are not intended to serve as a source of primary data or as an illustration of effective or ineffective auditing. Reprinted by permission from Jay C. Thibodeau and Deborah Freier. Copyright © Jay C. Thibodeau and Deborah Freier; all rights reserved. 1••• ( Case 61 ® Enron Enrori’s First Few Years hi~ 1985 Enron had assets along the three major stages of the supply
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STUDENT NUMBER: 33198474 Mediation of Lady Gaga Global Culture Industry CU71015A Theories of the Cultural Industry: Work‚ Creativity and Precariousness Alvina Azaria MA Creative and Cultural Entrepreneurship Media and Communication Pathway 1/17/2011 Question: Do objects in the culture industry have a life of their own? Discuss the ’mediation of things ’ argument from Lash and Lury by following the life of a particular object. Test the method by evaluating it in relationship to other theoretical
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