We investigate the role of Relative Performance Evaluation (RPE) theory in CEO pay and turnover using a product … peers. Despite the intuitive appeal of the theory, previous tests of RPE find weak and inconsistent evidence, which we argue …

explicitly evaluate managers relative to peer performance are associated with: (1) the transparency of mandatory disclosure; (2 … the two depends critically on whether managers compete with peers for market prices or accounting numbers. We further show …. Collectively, our findings suggest that managerial incentives can motivate managers to abandon the novel “disclosure substitution …

ownership concentration, percentage of independent director, and number of analyst following induce managers to release …-repurchase managers' opportunistic behavior and post-repurchase stock prices and operating performances …

, reducing managers' informational advantage and opportunities for private benefits leading executives to seek increased explicit … compensation. Alternatively, more disclosure allows shareholders to better observe managers' effort and evaluate their ability … find results consistent with compensation increasing after IFRS adoption implying a net reduction in managers …