effects tends to be substantially elevated in less developed countries. Variance estimation methods for second step …

volatility from their employing firms than are higher earning workers …

This paper examines whether CEO stock-based compensation has an effect on the market's ability to predict future … earnings. When stock-based compensation motivates managers to share their private information with shareholders, it will … anticipate future performance. We find that a CEO's stock-based compensation strengthens the association between current returns …