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 …

misrepresentation of underlying firm performance. This paper extends the literature by examining the effects of managerial stock option … misrepresent the underlying firm performance. On the contrary, the seemingly opportunistic guidance before option grants improves …

and public pressure. In particular, we assess if CEO power influences the choice of performance measures as a form of … performance-vested stock option (PVSO) plans, and find that firms with powerful CEOs attach less challenging targets in the … CEO pay and firm performance. However, our results indicate powerful CEOs can negate some of the beneficial effect of …

We examine the effects of performance measure properties on incentive system design, using data on incentive contracts … design. First, firms appear to choose the "best" performance measure available along these dimensions, and use it for the … most important (primary) formula bonus. Second, the properties of this primary performance measure are important …

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