the announcement of a clawback adoption, as well as post-adoption stock and accounting performance, are significantly and …

If overstatements were a symptom of the agency conflict, pay-for-performance sensitivities should have increased in …, we show that (i) CEO pay-for-performance sensitivities are higher among firms whose shareholders stand to benefit from … overstatements; (ii) this cross-sectional relationship weakens significantly after SOX; and (iii) the within-firm decrease in pay-for-performance …

performance of a firm and change in the equivalent shares awarded to the CEO. That is exactly what we document in our sample of 21 …, that such a practice penalizes the sensitivity of CEO wealth to stock price performance as poor (superior) stock price … performance is rewarded (penalized) with larger (smaller) equity grants. Directors’ equity compensation also strongly reflects the …

This study investigates whether firm innovation can be systematically traced to the CEO's performance evaluation made … by boards of directors. In evaluating CEO performance, the board can (i) assess and evaluate performance on job aspects … sensitive details. In this paper, I argue that these features of CEO performance evaluation are central to understanding how …

to firm performance. The study shows that executive pay and CEO incentives are lower in State controlled firms and firms … directors on the board have a higher pay-for-performance link. Non-State (private) controlled firms and firms with more … independent directors on the board are more likely to replace the CEO for poor performance. Finally, we document that US executive …