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Many firms use relative stock performance to evaluate and incentivize their CEOs. We provide evidence that these firms routinely disclose information that harms peers’ stock prices. Consistent with deliberate sabotage, peer-harming disclosures appear to be aimed at the peers whose stock price...
Persistent link: https://www.econbiz.de/10013210880
In many organizational contexts, managers might have self-serving incentives whereby giving high evaluations to … employees comes at the expense of their own payoff. In this study, I examine the impact of managers’ self-serving incentives on … the collection and use of information for the purpose of subjective performance evaluation. I find that managers with self …
Persistent link: https://www.econbiz.de/10013252250
This study examines the determinants of performance measurement tailoring between top management and middle managers in … management and middle managers respectively, it may reduce the incentives for the two parties to coordinate with each other. We … expect a firm’s decision to tailor performance measurement between top management and middle managers to be driven by this …
Persistent link: https://www.econbiz.de/10014032498
This paper examines the reliance on ESG metrics in executive compensation contracts. In our sample of international publicly traded firms, a rapidly growing fraction incorporate ESG metrics in the compensation schemes of their top executives. Our analysis links the reliance on these metrics to...
Persistent link: https://www.econbiz.de/10013435292
Persistent link: https://www.econbiz.de/10011504886
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...
Persistent link: https://www.econbiz.de/10011825857
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This study examines the impact of non-financial disclosure (NFD) on firms' labor investment efficiency. We analyze a broad sample of firms located across 44 countries and the period 2006–2019. Using regression analysis, the association between abnormal employment growth and environmental,...
Persistent link: https://www.econbiz.de/10014494790
Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the noise and distortion of a performance measure can be...
Persistent link: https://www.econbiz.de/10011376645