Recent studies in managerial accounting point out that the firms do not fully ratchet up the managers' future performance targets based on their past performance. This study offers a novel theoretical perspective on the firm's executive compensation strategy that supports such latest empirical...

We examine factors influencing firms' strategic disclosure of executive pay in Korea. Because the disclosure rules in Korea do not mandate but only recommend that firms distinguish between inside executive directors and outside directors when reporting the average pay of directors, this...