Using an event study approach, we seek to estimate the market value investors placed on Steve Jobs by investigating the stock market reactions to his death. In the three-day window surrounding his death, the estimated cumulative abnormal returns (CAR) are -5.76%. Given the market capitalization...

CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuck, Grinstein, and Peyer, 2010). Using idiosyncratic volatility as our measure of stock price...