[...]We also concentrate our survey on literature that testseconomic hypotheses within samples of U.S. firms. However,we believe that much of our discussion can be generalized tofirms throughout the world. Bushman and Smith (2003)present a broad overview of how differences in...

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,...