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This study investigates whether information about Chief Executive Officer (CEO) incentives is useful for predicting future earnings. We find that in companies with higher CEO equity incentives, current year earnings are more informative of future earnings than in other companies. Additionally,...
Persistent link: https://www.econbiz.de/10013107405
We investigate the extent to which market participants use compensation payouts released in the DEF 14A proxy statement (DEF14A) to assess future firm performance by examining sell-side analysts' earnings forecasts. Consistent with prior work, we confirm that CEO compensation unexplained by...
Persistent link: https://www.econbiz.de/10012898620
We investigate the extent to which market participants use compensation payouts released in the DEF 14A proxy statement (DEF14A) to assess future firm performance by examining sell-side analysts' earnings forecasts. Consistent with prior work, we confirm that CEO compensation unexplained by...
Persistent link: https://www.econbiz.de/10012863614
We provide evidence of unreported trading by corporate insiders in their own firm's shares and link this activity to future firm earnings and analyst forecast error. Unreported trading represent discrepancies between insider shareholdings from trades they report to the Exchange and their...
Persistent link: https://www.econbiz.de/10013060153
This paper conducts surveys that document CFO perspectives on corporate planning, corporate investment, capital structure, payout, and the goal of the firm. Current policy choices are compared to CFO survey data from two decades prior, which allows me to identify decision-making themes that are...
Persistent link: https://www.econbiz.de/10013309186
This study examines the voluntary disclosure of earnings forecasts by female CEOs. We find that in the backdrop of increased pressure to perform from investors and other stakeholders, female CEOs tend to issue more earnings forecasts than male CEOs, and those forecasts are more accurate. We also...
Persistent link: https://www.econbiz.de/10013218627
I investigate whether management earnings forecasts fully reflect the implications of accruals for future earnings. I find that managers overestimate accrual persistence in range forecasts but not in point forecasts and that managers' accrual-related forecast bias in range forecasts increases...
Persistent link: https://www.econbiz.de/10013153783
Empirical research on the relationship between CEO compensation and corporate performance has, as of yet, failed to yield meaningful results. Evidence instead points to the decoupling of CEO total compensation (salary, bonus, other payments, and stock options) from the corporate performance....
Persistent link: https://www.econbiz.de/10013247621
Persistent link: https://www.econbiz.de/10009739606
Based on pre-IFRS data from Australia, we provide further evidence that disaggregating operating cash flow into its components enhances the predictive ability of aggregate operating cash flow in forecasting future cash flows. We also find that cash received from customers and cash paid to...
Persistent link: https://www.econbiz.de/10013117447