Davidson, Wallace; Xie, Biao; Xu, Weihong; Ning, Yixi - In: Journal of Management and Governance 11 (2007) 1, pp. 45-60
In this paper we hypothesize that CEOs will be motivated to manage earnings prior to a turnover decision. This motivation comes from the horizon problem for CEOs nearing retirement age and for CEOs whose profit-based bonus is a large portion of their total compensation. We find that firms in...
