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We examine the effect of CEO marital status on corporate cash holdings. Consistent with the agency framework, we find that firms with single CEOs hold more cash compared to otherwise similar firms with married CEOs. Our findings suggest that corporate tax avoidance and lower dividend payouts are...
Persistent link: https://www.econbiz.de/10013291352
The aim of this paper is to examine how family businesses and non-family businesses pay their CEOs differently and the … relationships among family firms, executive pay and corporate governance mechanisms. The empirical results show that compare with … non-family businesses, family businesses tend to grant more fixed compensation and less performance-based pay to their …
Persistent link: https://www.econbiz.de/10013013682
Using a hand-collected sample of Italian family and non-family-controlled firms, we investigate the moderating effect … of family ownership on the relation between earnings management and CEO turnover. Consistent with agency theory, we find … being primarily driven by non-family-controlled firms. In family-controlled firms, we find that the positive relation is …
Persistent link: https://www.econbiz.de/10013035564
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...
Persistent link: https://www.econbiz.de/10011963233
Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...
Persistent link: https://www.econbiz.de/10011968863
hypothesized that firms run by female managers tend to have larger cash balances. In line with the hypothesis, the results …
Persistent link: https://www.econbiz.de/10012971253
management and are instrumental in mitigating the agency conflict between managers and shareholders. My expansive, hand …
Persistent link: https://www.econbiz.de/10012999130
This paper investigates whether adoptions of executive stock ownership plans coincide with decreased incentives to meet or just beat analysts' near-term EPS forecasts. Firms often assert that ownership plans focus executives on long-term performance. I find that the impact of these adoptions on...
Persistent link: https://www.econbiz.de/10012904557
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