In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive...

Barthelme et al. (2018) examine the real effects of pension accounting regulation and provide evidence consistent with the claim that recent changes in financial reporting rules affect pension asset allocation decisions. Their study offers an interesting opportunity to highlight the importance...

Repurchase agreements are money market instruments that are used widely and for various purposes due to their simplicity and flexibility. The European repo market is quite concentrated, as 80% of the transactions is conducted be-tween the top 20 banks and 61.9% of the collaterals used in the...

The period 2007-2010 marked one of the most severe economic and financial crises in living memory. In this paper we focus on two of accounting's key functions within organizations and markets, financial reporting and governance. In this respect we find that accounting exhibited shortcomings in...

We examine the economic consequences of the recent adoption of SFAS 123(R) in the United States. Consistent with the conjectures of prior research, our results show that the removal of favorable accounting treatment for stock options post SFAS 123(R) results in a switch from stock options to...

LaFond and Watts (2008) provide evidence that information asymmetry might be a determinant of accounting conservatism. One implication of their paper is that regulators trying to reduce information asymmetry by lowering the level of accounting conservatism might be wrong. However, there is a...

We study whether mandatory adoption of International Financial Reporting Standards (IFRS) is associated with changes in the sensitivity of CEO turnover to accounting earnings and how the impact of IFRS adoption varies with country-level institutions and firm-level incentives. We find that CEO...

We study whether accounting information quality (AIQ) is priced in the executive labor market. Focusing on externally hired CEO compensation at their initial appointment, we find a 7.38% pay premium for a one-standard deviation decline in AIQ measured in the years preceding the appointment. This...

This paper make four important contributions to the accounting literature. First, it shows that discretionary accruals are associated with CEO cash compensation, but that the coefficient is significantly less than that on nondiscretionary accruals. Second, a differential reaction is found to...

We examine how the mandatory adoption of IFRS in Continental Europe affects the contractual usefulness of accounting information in executive compensation, as reflected in pay-performance sensitivity (PPS) and relative performance evaluation (RPE). The empirical evidence indicates a weak...