One role of stock options in executive compensation packages is to counterbalance the inherently short-term orientation of base salary and annual bonuses. Managerial compensation plans frequently include stock options in order to better align the interests of managers and outside shareholders...

Purpose This paper aims to examine the impact of the Labor Management Reporting and Disclosure Act (LMRDA). It is expected that returns would have increased in response to the law’s passage, as it imposed a number of restrictions on unions vis-à-vis management and instituted many rules...

The effect of layoff announcements on the shareholder returns of 154 firms that announced layoffs in 1993‐1994 was examined with event study methodology. As expected, the returns to these firms were negative. Further, the returns to the firms that announced layoffs for “reactive” reasons...

Purpose – The purpose of this paper is to compare the market reaction to layoff announcements of union and nonunion employees. Design/methodology/approach – Event study methodology was utilized to assess the effects of layoff announcements of union versus nonunion employees. The union status...

As US firms expand into Canada, it becomes necessary for them to be aware of Canadian law governing labour and employment. Unlike what many might think, the laws in the two countries are substantially different. Further, the effects of these differences have been demonstrated empirically....

The practice of law is under pressure from various sources. Economics is one such source. The number of licensed lawyers is growing rapidly at a time when other disciplines are threatening areas of practice that were once the sole province of lawyers. Another pressure on the profession comes...