We empirically examine how governance structure affects the design of executive compensation contracts and, in particular, the implicit weights of firm performance measures in CEO compensation. We find that compensation contracts in firms with higher takeover protection and where the CEO has...

This paper presents an analytical model to study the trade- offs that managers face when they use accounting signals for multiple uses. We analyze the situation where a signal is informative about the agent's effort (and hence useful for contracting with the agent) and about the attractiveness...

Adopting management accounting systems are important events in the life of young and growing companies. Using a sample of 78 startup companies, we document cross-sectional differences in the adoption of operating budgets as well as seven other management accounting systems. We find that our...