We examine value creation and destruction in the tobacco industry due to the radical litigation strategy pursued by Brooke Group and its CEO, Bennett LeBow. Brooke Group has a tiny market share, low margins, high leverage, and a high concentration of management ownership.Beginning in 1996 the...

Company stock option plans have diverse "sunset" policies for modifying terms of options held by managers who exit the firm. In our S&P 500 sample, these forfeiture, vesting, and expiration provisions are less generous in companies characterized by fast growth, dependence on skilled human...

amp;#65279;Company stock option plans have diverse quot;sunsetquot; policies for modifying terms of options held by managers who exit the firm. In our Samp;P 500 sample, these forfeiture, vesting, and expiration provisions are less generous in companies characterized by fast growth, dependence on...

Company stock option plans have diverse acirc;not;Ssunsetacirc;not;? policies for modifying terms of options held by managers who exit the firm. In our Samp;P 500 sample, these forfeiture, vesting, and expiration provisions are less generous in companies characterized by fast growth, dependence on...