In recent years, stock option backdating schemes have been widely reported by the media.
However, the regulatory, governance, and ethical ramifications of backdating have been largely overlooked in textbooks and classroom discussions in business schools.
Take this example, from The Wall Street Journal, which began investigating the practice last fall: "Suppose an executive gets 100,000 options on a day when the stock is at .
Exercising them after it has reached would bring a profit of times 100,000, or million.
The company focused on providing value-added services to telecommunication service providers, in particular to mobile network operators.
Or did a lot of CEOs just have amazingly good luck?
A stock option gives the recipient the right to purchase stock at a set price.
Founded in 1982, the company went public on the Nasdaq Stock Market in 1986.
Led by co-founder and CEO Jacob "Kobi" Alexander, the company originally specialized in centralized hardware/software systems for voice and fax messaging and sold them to telecommunications companies and other large enterprises.