Going to jail for a while..

Since it now seems that the Rigases will actually serve jail time for their roles in the Adelphia scandal, I thought it would be a good time to mention a very cool paper by Karpoff, Lee, and Martin that is forthcoming in the Journal of Financial Economics on what happens to managers who “cook the books”. Short version? They burn. Longer version: Karpoff, Lee, and Martin look at over 2000