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stockholders and managers. Executive compensation is naturally related to firm performance. However, contracts are not always … perfect. Managers may exert influence on the formulation and implementation of compensation contracts by means of their …
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This paper examines the impact of earnings announcements and earnings forecast revisions on stock returns across markets with different levels of maturity. In each market, the objects of interest are the effects of backward-looking earnings announcement information and forward-looking earnings...
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