In this study, we examine the strategic intraday and intraweek timing of management forecast announcements based on whether they contain good or bad news. In contrast to past research using highly visible earnings announcements, unscheduled voluntary management forecasts provide a setting in...

We examine whether pay differentials between the chief executive officer (CEO) and vice presidents (VPs) can be explained by firms’ strategic priorities. We find that firms that pursue prospector-type strategies have a larger CEO−VP difference in equity compensation. We argue that such a pay...