We investigate firms' operating performance subsequent to the repricing of executive and non-executive employee stock options. We find that, relative to non-repricers, repricing firms have a larger increase in operating income and cash flows in subsequent periods. This performance improvement is...

In this monograph we provide research perspectives on the relation between executive compensation and firms' financial reporting and disclosure policies. In particular, we examine the two primary contexts in which this relation has been examined in the extant literature. The first issue we...

We examine effects of government actions and related accounting policies on the corporate bond market implied by changes in relations between aggregate bond returns and cash flow and discount rate news. We capture the influence of risk by partitioning bonds into investment and speculative...