This paper studies the effects of interlocked boards of directors on voluntary disclosures, governance practices and earnings quality. The Canadian environment, where director interlocks are prevalent, is examined. A checklist of twenty voluntary disclosure measures from proxy statements is...

Early empirical studies find a negative association between firm performance and shareholder activism, whereas more recent studies document a positive association. We argue and theoretically show that this change in behavior results from mandating executive compensation disclosure. We develop a...

Purpose – This study examines the association between Chief Executive Officer (CEO) power and the level of corporate social responsibility (CSR) disclosure, as well as the moderating role of stakeholder influence on this association.Design/methodology/approach – Using a sample of 986...

Extant studies provide two additional explanations other than backdating for the abnormal stock returns around CEO option grants – timing of option grants and timing of corporate disclosures. We examine the effect of the Sarbanes-Oxley Act of 2002 (SOX), the stock option backdating scandal,...

We examine whether the information content of the earnings report, as captured by the earnings response coefficient (ERC), increases when investors' uncertainty about the manager's reporting objectives decreases, as predicted in Fischer and Verrecchia (2000). We use the 2006 mandatory...

We evaluate the effects of management ownership and other corporate governance variables on Hong Kong firms' stock performance following the onset of the Asian Financial Crisis (1997-98), a period during which corporate governance structures to protect the interests of outside shareholders are...

Using a sample of partially privatized state-owned enterprises (SOEs) listed in China's A-share stock market, this study investigates whether the regional institutions and CEO's political connectedness will affect the listed firms' hiring and firing decisions about CEOs, and what are the...

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...

We analyze 228 executive compensation contracts voluntarily disclosed by Chinese listed firms and find that central-government-controlled companies disclose more information in executive compensation contracts than local-government-controlled and non-government-controlled companies. Cash-based...

We document the emergence of “social executives,” top executives who connect with investors directly, personally, and in real time through social media, and we study the consequences of this development for financial markets. We contend that the emergence of social executives enables...