This study examines the relationship between corporate performance and the Chief Executive Officer compensation in high-technology firms in the S&P 1500. The total CEO compensation and short and long-term compensations were tested regarding corporate performance. A panel data SUR model is...

Au cours de la précédente décennie, le développement considérable des stock-options comme instrument de rémunération incitative a posé, aux Etats-Unis puis au niveau international, le problème de la « reconnaissance » comptable de ces produits dérivés. En effet, n’engendrant aucun...

Accounting measures are traditionally considered not significant from an economic point of view. In particular, accounting rates of return are often regarded economically meaningless or, at the very best, poor surrogates for the IRR, which is held to be “the” economic yield. Likewise,...

This study applies the prevailing scholarly theories of strategic management, employment decisions, cost accounting and share reward schemes to a panel of questions raised by Colin Drury (2012) in the case study of the fictitious company Integrated Technology Services (UK) Ltd., ITS (UK). The...

In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive...

We examine whether financial reporting quality improves after firms voluntarily adopt a compensation clawback provision. Clawback provisions allow companies to recoup excess incentive pay in the event of an accounting restatement, and are intended to ex ante deter managers from publishing...

Prior archival studies find that firms that voluntarily adopted clawback policies have experienced a reduction in restatements. I experimentally examine this outcome by investigating the influence of two key factors (i.e., executive compensation structure and auditor quality) on financial...

We find that firms led by Chief Financial Officers (CFOs) who are relatively more concerned about their future job prospects are less likely to take actions that result in poor discretionary quality reporting during an Initial Public Offering (IPO). In addition, our results show that CFOs with...

Reliable information on small and medium sized enterprises (SMEs) is rare and costly for financial intermediaries. To compensate for this, relationship banking is often considered as the appropriate lending technique in the case of SMEs. In this paper we offer a theoretical model to analyze the...

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common perception that German accounting is rather 'uninformative'. This characterization is appropriate from the perspective of an arm's length or outside investor and when confined to the...