The chief executives and CFOs of companies accused of backdating stock options for their top executives were likely to lose their jobs and have trouble finding another one, according to a new study.
The study, which appeared in the current issue of the American Accounting Association journal The Accounting Review, found that top corporate executives who were implicated in the backdating of stock options (enhancing options' value by dating them earlier than the day on which they are issued, a practice of borderline legality) not only were likely to lose their jobs, but had a less than even chance of landing a full-time position at another firm.
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