Key issues in the design of incentive plans include the choice of performance measures, the level of pay-performance sensitivity, and the use of individual versus group payouts. In addition, research suggests that implementation issues can also have significant effects on incentive plan...

Traditional executive stock options are granted at fair market value on the grant date and vest over time. Although executive stock options are a popular compensation vehicle, they have received increasing criticism for providing inadequate incentives for executives to improve shareholder...

The purpose of this paper is to extend our understanding of theoretical agency considerations in the choice of compensation contracts by examining the use of performance-based compensation in professional service firms. We focus on compensation practices for physicians in medical group practices...

This paper applies a value-based management framework to critically review empirical research in managerial accounting. This framework enables us to place the exceptionally diverse set of managerial accounting studies from the past several decades into an integrated structure. Our synthesis...

The objective of this paper is to foster research on recent innovations in performance measurement by providing a rich description of emerging measurement practices and suggesting directions for future research. Using survey data collected by consulting firms and government organizations, we...

This short commentary responds to several issues raised in Zimmerman (2001). We address Zimmerman's criticisms that managerial accounting studies are purely descriptive, conducted without an underlying theory, and unguided by research hypotheses. We also discuss our views regarding the...

The paper examines the determinants and performance consequences of equity grants to senior-level executives, lower-level managers, and non-exempt employees of "new economy" firms. We find that many of the equity grant determinants and their relative importance vary significantly between new and...

This study examines some of the factors influencing the choice of performance measures in worker (non-management) incentive plans. Our sample consists of 607 incentive plans covering non-management employees and having a clear, pre-announced performance-payout link. We find that informativeness...

The paper examines the determinants and performance consequences of equity grants to senior-level executives, lower-level managers, and non-exempt employees of "new economy" firms. We find that the determinants of equity grants are significantly different in new versus old economy firms. We also...