Large outside shareholders, outside boards, and management entrenchment influence the choice of inside or outside CEOs … stock ownership of large outside shareholders and the fraction of the board seats held by outsiders. It falls as management … consistent with the view that large outside shareholders play an active role in controlling manager-shareholder conflicts …

granting in-the-money rather than at-the-money ESOs cannot simultaneously benefit shareholders and managers is positively … of cases, issuing in-the-money ESOs is welfare-enhancing for both managers and shareholders … shareholders when the firm awards backdated stock options to its executives, selecting a date when the stock price is below the …

Using the most recent data available, I examine the influence of large shareholders and institutional investors on ….e. pension, deferred pay, stock incentive pay. These findings are consistent with the managerial agency theory and the …