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The incentives for tax planning
Armstrong, Christopher; Blouin, Jennifer L.; Larcker, … - 2011 - Draft: March 8, 2011
We use a proprietary data set with detailed executive compensation information to examine the relationship between the incentives of the tax director and GAAP and cash effective tax rates, the book-tax gap, and measures of tax aggressiveness. We find that the incentive compensation of the tax...
Persistent link: https://www.econbiz.de/10009506609
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M&A Decisions and U.S. Firms’ Voluntary Adoption of Clawback Provisions in Executive Compensation Contracts
Brown, Anna Bergman - 2016
We examine whether U.S. firms' M&A decisions influence the likelihood of voluntary adoption of clawback provisions in executive compensation contracts and whether clawback adoption improves subsequent M&A decisions. Because prior research finds that poor M&A decisions are associated with future...
Persistent link: https://www.econbiz.de/10013008597
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Low interest rates and executive risk-taking incentives : evidence from the United States
Castro, Paula; Tascon, Maria T.; Castaño, Francisco J.; … - In: Business research quarterly : BRQ 24 (2021) 4, pp. 324-354
rates on managers’ risk-taking incentives proxied by the sensitivity of executive compensation to stock return volatility … increase the managers’ short-term risk-taking incentives and that those incentives contribute to the risk effectively taken by … incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and …
Persistent link: https://www.econbiz.de/10012694415
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Do U.S. Insurance Firms Offer the 'Wrong' Incentives to Their Executives?
Milidonis, Andreas - 2011
We examine the relation between executive compensation and market-implied default risk for listed insurance firms from … 1992-2007. Shareholders are expected to encourage managerial risk-sharing through equity-based incentive compensation. We … find that long-term incentives and other share-based plans do not affect the default risk faced by firms. However, the …
Persistent link: https://www.econbiz.de/10013130368
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Industry Tournament Incentives and Corporate Innovation Strategies
Kong, Lingfei - 2020
This paper examines how the tournament-like progression in the CEO labor market influences corporate innovation strategies. By exploiting a text-based proxy for product innovation based on product descriptions from 10-Ks, we find a significant positive relation between industry tournament...
Persistent link: https://www.econbiz.de/10012850347
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Organizing for change : preference diversity, effort incentives, and separation of decision and execution
Itō, Hideshi - 2015
Persistent link: https://www.econbiz.de/10011381443
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The long-term consequences of short-term incentives
Edmans, Alex; Fang, Vivian; Huang, Allen - 2017
Persistent link: https://www.econbiz.de/10011740424
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Employment risk, compensation incentives, and managerial risk taking : evidence from the mutual fund industry
Kempf, Alexander; Ruenzi, Stefan; Thiele, Tanja - In: Journal of financial economics 92 (2009) 1, pp. 92-108
Persistent link: https://www.econbiz.de/10003833683
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Interest Rates and Managerial Risk Incentives : The Role of Institutional Investors. Evidence From the US
Castro, Paula - 2019
different macroeconomic conditions to identify their influence on managers' risk incentives. More than 11,000 industrial firms … loan interest rates, the ZLB and monetary market stability, increase the managers' risk incentives, proxied by the … of firms' managers in the US in recent years and how the monitoring of institutional ownership influences these relations …
Persistent link: https://www.econbiz.de/10012893070
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Globalization of corporate governence : the American influence on dismissal performance sensitivity of European CEOs
Jungeilges, Jochen A.; Oxelheim, Lars; Randøy, Trond - 2010
This study examines how globalization of corporate governance practices influence the risk of European CEOs being …
Persistent link: https://www.econbiz.de/10003932526