Fair Business Is as Fair Business Does

摘要

THE SCANDAL about stock option dating continues to widen.It seems that many indictments are in store.Statistical analysis by finance professors Erik Lie,of the University of Iowa,and Randall Heron,of Indiana University,indicates that nearly 30% of U.S.companies might have backdated options.That is,the firms appear to have granted options as of a date prior to the date on which they were really issued,in order to exploit a lower stock price.Meanwhile,a recent Wall Street Journal study demonstrated that in late September 2001-while the world and the market were