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Self-Sorting, Incentive Compensation, and Human-Capital Assets

Abdel-Khalik, A. Rashad - 2014

Skilled labour has gained significance as a production factor in the age of information technology, but accounting does not recognize human capital as an asset that contributes to the firm's earning power. This paper suggests a method to develop a latent index to proxy the managerial-skill...

Persistent link: https://www.econbiz.de/10014096640

Internal versus external earnings per share goals and CEO incentives

Armstrong, Christopher; Chau, Jacky; Ittner, Christopher D. - 2017

We examine differences in CEO achievement of EPS goals set separately through analyst forecasts and firm bonus plans …. We find CEOs frequently achieve analyst forecasts, but rarely achieve bonus goals exceeding the forecast. Despite lower … compensation risk accompanying easier goals, we also find that bonus goals set below forecasts are associated with greater pay …

Persistent link: https://www.econbiz.de/10011800636

Does financial misconduct affect the future compensation of alumni managers?

Groysberg, Boris; Lin, Eric; Serafeim, George - 2017

We explore how an organization's financial misconduct may affect pay for former employees not implicated in wrongdoing. Drawing on stigma theory we hypothesize that although such alumni did not participate in the financial misconduct and they had left the organization years before the...

Persistent link: https://www.econbiz.de/10011928843

Testing for distortions in performance measures : an application to residual income based measures like economic value added

Sloof, Randolph; Praag, Mirjam van - 2014

Distorted performance measures in compensation contracts elicit suboptimal behavioral responses that may even prove to be dysfunctional (gaming). This paper applies the empirical test developed by Courty and Marschke (2008) to detect whether the widely used class of Residual Income based...

Persistent link: https://www.econbiz.de/10010350010

Do Managerial Incentives Drive Cost Behavior? Evidence about the Role of the Zero Earnings Benchmark for Labor Cost Behavior in Belgian Private Firms

Dierynck, Bart; Landsman, Wayne R.; Renders, Annelies - 2017

This study investigates the influence of managerial incentives to meet or beat the zero earnings benchmark on labor cost behavior of private Belgian firms. We posit that relative to managers of firms reporting healthy profits, managers meeting or beating the zero earnings benchmark will increase...

Persistent link: https://www.econbiz.de/10014204727

The Determinants of Multiple Forms of Controls in Foreign Subsidiary Manager Evaluations

Kihn, Lili-Anne - 2009

This study explores how the determinants of financial, nonfinancial and behavioural controls vary in foreign subsidiary manager performance evaluations. Possible impacts of the following factors are analyzed: extent of geographical dispersion, decentralization and perceived environmental...

Persistent link: https://www.econbiz.de/10014212071

Bridging the Gap : Evidence from Externally Hired CEOs

Ertimur, Yonca - 2018

We investigate executive employment gaps (hereafter, gaps) between the appointment of an external CEO at a public firm and the individual's prior executive position at a public company. These gaps cannot be reliably obtained from common databases. We hand collect data for externally hired CEOs...

Persistent link: https://www.econbiz.de/10012930437

CEO Big Five Personality and Stock Price Crash Risk

Liu, Ming - 2019

This study investigates whether CEO Big Five personalities (i.e., agreeableness, conscientiousness, extraversion, neuroticism and openness) are associated with stock price crash risk. The Big Five can influence managerial behaviors to withhold or release bad news. When the amount of withheld...

Persistent link: https://www.econbiz.de/10012895357

Bridging the Gap : Evidence from Externally Hired CEOS

Ertimur, Yonca - 2018

Persistent link: https://www.econbiz.de/10012914795

Managerial Compensation and Stock Price Manipulation

Schroth, Josef - 2019

This paper studies the role of optimal managerial compensation in reducing uncertainty about manager reporting objectives. It is shown that, paradoxically, firm owners allow managers with higher propensity to manipulate the short‐term stock price to push for higher powered and more...

Persistent link: https://www.econbiz.de/10012871713

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