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Identification and generalizability in accounting research : a discussion of Christensen, Floyd, Liu, and Maffett (2017)

Glaeser, Stephen; Guay, Wayne R. - In: Journal of accounting & economics 64 (2017) 2/3, pp. 305-312

Persistent link: https://www.econbiz.de/10011783381

Does tax aggressiveness reduce financial reporting transparency?

Balakrishnan, Karthik; Blouin, Jennifer L.; Guay, Wayne R. - 2011 - This draft: March 20, 2011

We investigate whether aggressive tax planning firms have a less transparent information environment. Although tax planning provides expected tax savings, it can simultaneously increase the financial complexity of the organization. And, to the extent that this greater financial complexity cannot...

Persistent link: https://www.econbiz.de/10009348102

The Power of the Pen and Executive Compensation

Core, John E. - 2012

We examine the press' role in monitoring and influencing executive compensation practice using more than 11,000 press articles about CEO compensation from 1994 to 2002. Negative press coverage is more strongly related to excess annual pay than to raw annual pay, suggesting a sophisticated...

Persistent link: https://www.econbiz.de/10012755333

Is Accruals Quality a Priced Risk Factor?

Core, John E. - 2012

In a recent and influential empirical paper, Francis, LaFond, Olsson, and Schipper (2005) conclude that accruals quality (AQ) is a priced risk factor. We explain that FLOS' regressions examining a contemporaneous relation between excess returns and factor returns do not test the hypothesis that...

Persistent link: https://www.econbiz.de/10012755346

Stock Market Anomalies : What Can We Learn from Repurchases and Insider Trading?

Core, John E. - 2012

We examine whether managers' trading decisions (both at a firm and personal level) are correlated with trading strategies suggested by the operating accruals and the post-earnings announcement drift (SUE) anomalies. We discuss advantages and disadvantages of the use of managerial trading...

Persistent link: https://www.econbiz.de/10012755653

Discussion of Accounting Discretion, Corporate Governance, and Firm Performance

Guay, Wayne R. - 2011

Bowen, Ragjopal, and Venkatachalam (2008) explore whether managers, on average, use accounting discretion for reporting … that although accounting discretion is positively related to governance structures that allow managers greater discretion … in decision-making, there is no evidence that the portion of accounting discretion related to governance structures is …

Persistent link: https://www.econbiz.de/10012756633

Conservative Financial Reporting, Debt Covenants, and the Agency Costs of Debt

Guay, Wayne R. - 2011

Considerable research has documented the role of debt covenants and conservative financial accounting in addressing … the relation between debt covenants and conservative accounting, and the extent to which the two contracting mechanisms …

Persistent link: https://www.econbiz.de/10012756638

Executive Equity Compensation and Incentives : A Survey

Core, John E. - 2011

Stock and option compensation and the level of managerial equity incentives are aspects of corporate governance that are especially controversial to shareholders, institutional activists, and governmental regulators. Similar to much of the corporate finance and corporate governance literature,...

Persistent link: https://www.econbiz.de/10012757171

Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts

Core, John E. - 2011

We empirically examine standard agency predictions about how performance measures are optimally weighted to provide CEO incentives. Consistent with prior empirical research, we document that the relative weight on price and non-price performance measures in CEO cash pay is a decreasing function...

Persistent link: https://www.econbiz.de/10012757279

Accounting for Employee Stock Options

Guay, Wayne R. - 2011

Accounting for employee stock options (ESOs) is controversial, with many arguing that it has substantial economic … consequences. Such arguments rely on the assumption that one or more interested parties fixate on accounting numbers and fail to … understand the real costs and benefits of ESOs. We review the various accounting issues and economic consequence arguments …

Persistent link: https://www.econbiz.de/10012757290