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Earnings Management from the Bottom Up : An Analysis of Managerial Incentives Below the CEO
Oberholzer-Gee, Felix - 2012
Performance-based pay is an important instrument to align the interests of managers with the interests of shareholders …. However, recent evidence suggests that high-powered incentives also provide managers with incentives to manipulate the firm …'s reported earnings. The previous literature has focused primarily on Chief Executive Officers, but managers further down in the …
Persistent link: https://www.econbiz.de/10013112655
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Real Earnings Smoothing and Managerial Compensation Incentives
Chen, Changling - 2019
We provide empirical evidence that managers smooth earnings using discretionary R&D spending (i.e., real smoothing …
Persistent link: https://www.econbiz.de/10012894937
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Determinants and consequences of clawback provisions in management compensation contracts : a structured literature review on empirical evidence
Velte, Patrick - In: Business research 13 (2020) 3, pp. 1417-1450
managers, their contribution may be dependent on other corporate governance mechanisms, e.g. board composition, as significant …
Persistent link: https://www.econbiz.de/10012422403
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Executive Compensation, Corporate Governance and Earnings Management in an Emerging Market
Sheikh, Muhammad Fayyaz - 2017
We examine how compensation of chief executive officer (CEO) and corporate governance practices affect earnings management behavior in an emerging economy, Pakistan. Using 1836 firm-year observations from 260 firms listed in KSE for period 2005 to 2012, we do not find that CEO compensation has...
Persistent link: https://www.econbiz.de/10012967539
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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. Having different goals for the same performance metric enables us to assess their relative importance in incentivizing CEOs. We find CEOs frequently achieve analyst forecasts,...
Persistent link: https://www.econbiz.de/10011800636
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CEO and Outside Director Equity Compensation : Substitutes or Complements for Management Earnings Forecasts?
Kim, Hyung Tae - 2018
This study examines how the equity compensation of chief executive officers (CEO) and that of outside directors affect management earnings forecasts (MFs) and the relationship between these two positions in terms of compensation. Our evidence reveals that CEO (director) equity compensation is...
Persistent link: https://www.econbiz.de/10012920195
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Estimating the sensitivity of CEO pay to accounting-based performance : gross versus net measures
Black, Dirk E.; Dikolli, Shane S.; Hofmann, Christian; … - 2021
In the empirical estimation of the relation between CEO pay and both firm and peer performance, researchers typically include conventional accounting-based measures that reflect firm performance net of executive pay expense. We analytically show that when firms evaluate CEO performance relative...
Persistent link: https://www.econbiz.de/10013218451
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The Influence of Regulation Affecting Non-GAAP Reporting on Executive Compensation Contracting
Desai, Hrishikesh - 2021
The regulatory landscape for non-GAAP reporting has been evolving due to changes in the U.S. SEC’s interpretations of regulations affecting non-GAAP disclosures. I examine whether the regulation of non-GAAP disclosures constrains efficient compensation contracting. I use the regulatory shock...
Persistent link: https://www.econbiz.de/10013240846
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Do Investors Prefer Female CEOs in Activist-Targeted Firms? The Role of CEO Gender, Shareholder Activism Type, and Earnings Guidance Disclosure
Jackson, Scott C.; Agoglia, Christopher P.; Piercey, M. … - 2022
invest in the firm targeted by the activism. We also find that when managers disclose an optimistic earnings guidance …
Persistent link: https://www.econbiz.de/10013292515
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Product market peers and relative performance evaluation
Jayaraman, Sudarshan; Milbourn, Todd; Peters, Florian; … - 2017
We investigate the role of Relative Performance Evaluation (RPE) theory in CEO pay and turnover using a product similarity-based definition of peers (Hoberg and Phillips 2016). RPE predicts that firms filter out common shocks (i.e., those affecting the firm and its peers) while evaluating CEO...
Persistent link: https://www.econbiz.de/10011807920