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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,...
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Using 14,800 forecasts of one-year S&P 500 returns made by Chief Financial Officers over a 12-year period, we track the individual executives who provide multiple forecasts to study how their beliefs evolve dynamically. While CFOs' return forecasts are systematically unbiased, their confidence...
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firms successfully maximize profits, the objective of profit maximization continues to be an axiomatic feature of the … team into a firm. What results is an account of the emergence of the objective of profit seeking. Profit seeking emerges …
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After allegations that Harvey Weinstein had sexually assaulted many women appeared on the front page of the New York Times in October of 2017, the #MeToo movement began in earnest. Nowadays, allegations implicating #MeToo concerns as to a company’s employee, whether or not involving illegal...
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, individuals show the opposite pattern, preferring profit maximization. This paper argues, however, that the more rational … preference for profit maximization in joint evaluation is limited to those circumstances where the payoff recipients share a … social identity. When social identity differs between recipients, individuals no longer prefer profit maximization under …
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