In this study, we examine how business strategies affect compensation contracting and performance evaluation. Using textual measures of business strategies derived from corporate 10-K filings, we find that firms adopting the operational excellence strategy place a higher compensation weight on...

We examine the relation between the proportion of a firm’s top management team that is appointed during a CEO’s tenure (i.e., top management team, or TMT, co-option) and audit pricing. Using a sample of U.S. firms during the 2001-2018 period, we find that TMT co-option is positively...