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Full-Text Articles in Law
Double Dipping: The Cross-Border Taxation Of Stock Options, Jeffrey M. Colon
Double Dipping: The Cross-Border Taxation Of Stock Options, Jeffrey M. Colon
Faculty Scholarship
Once awarded exclusively to upper management, stock options are now granted increasingly to rank-and-file employees and are becoming a greater component of employee compensation. The expanding use of stock options is undoubtedly due in part to the large increase in equity prices over the last twenty years. Further fueling the demand was the Internet start-up boom of the late 1990s, the spectacular financial success of many technology and computer companies, notably Microsoft and Oracle, and the well- publicized lucre acquired by their employees. The collapse of the initial public offerings market for Internet start-up companies at the dawn of the …
Spinning And Underpricing: A Legal And Economic Analysis Of The Preferential Allocation Of Shares In Initial Public Offerings , Sean J. Griffith
Spinning And Underpricing: A Legal And Economic Analysis Of The Preferential Allocation Of Shares In Initial Public Offerings , Sean J. Griffith
Faculty Scholarship
This Article investigates the preferential allocation, or “spinning,” of shares in initial public offerings. It begins by examining the offering process and the incentives of underwriters, issuers, and investors. Through this examination of the participants and the process, it locates the harm of spinning in the underpricing of initial public offerings. The Article then seeks to identify precisely which participants in the offering process are harmed by the practice and finally evaluates the most appropriate means of addressing this harm.