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results are made based on intermediate balances of administration. The analysis of the company performance based on …
Persistent link: https://www.econbiz.de/10010782044
Distorted performance measures in compensation contracts elicit suboptimal behavioral responses that may even prove to … whether the widely used class of Residual Income based performance measures - such as Economic Value Added (EVA) - is … economic circumstances and the self-selection of firms using EVA. Our findings indicate that EVA is a distorted performance …
Persistent link: https://www.econbiz.de/10010350010
argument en montrant un lien positif entre l’adoption de régimes d’options et la performance de l’entreprise. Toutefois, des … improvements in firm performance. However, most recent results cast a shadow on the validity of these findings. More specifically …
Persistent link: https://www.econbiz.de/10005604411
the performance measure and its similarity(congruity, congruence) to the benefit of the manager’s employer. Anecessary …
Persistent link: https://www.econbiz.de/10005868463
Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts … noise and distortion of a performance measure can be measured. Courty and Marschke (2007) have recently developed an elegant … empirical test to detect distortion, based on the degradation of a performance measure subsequent to increasing its weight in …
Persistent link: https://www.econbiz.de/10011376645
We examine the economic consequences of the recent adoption of SFAS 123(R) in the United States. Consistent with the conjectures of prior research, our results show that the removal of favorable accounting treatment for stock options post SFAS 123(R) results in a switch from stock options to...
Persistent link: https://www.econbiz.de/10011149729
The objective of this paper is threefold. First we develop a comprehensive framework for value-relevant disclosures (Value Reporting) to serve as the theoretical background for BusinessReporting in order to give guidance for preparers and standard setters in their task to structure...
Persistent link: https://www.econbiz.de/10005858505
We study whether outside directors are held accountable for poor monitoring of executive compensation by examining the reputation penalties to directors of firms involved in the option backdating (BD) scandal of 2006–2007. We find that, at firms involved in BD, significant penalties accrued to...
Persistent link: https://www.econbiz.de/10010576094
Prior research argues that a manager whose wealth is more sensitive to changes in the firm's stock price has a greater incentive to misreport. However, if the manager is risk-averse and misreporting increases both equity values and equity risk, the sensitivity of the manager's wealth to changes...
Persistent link: https://www.econbiz.de/10010592147
Prior research argues that a manager whose wealth is more sensitive to changes in the firm׳s stock price has a greater incentive to misreport. However, if the manager is risk-averse and misreporting increases both equity values and equity risk, the sensitivity of the manager׳s wealth to...
Persistent link: https://www.econbiz.de/10011039247