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  • Influence
Expectations Management and Beatable Targets: How Do Analysts React to Explicit Earnings Guidance?
This study investigates security analysts' reactions to public management guidance and assesses whether managers successfully guide analysts toward beatable earnings targets. We use a panel datasetExpand
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How Important is Corporate Governance
We examine the relation between a broad set of corporate governance indicators and various measures of managerial decision making and organizational performance. Using a sample of 2,106 firms, weExpand
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Back Door Links between Directors and Executive Compensation
This paper examines whether links between inside and outside directors have an impact on CEO compensation. Using a comprehensive sample of 22,074 directors for 3,114 firms, we develop a measure ofExpand
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Do Short Sale Transactions Precede Bad News Events
Do short sale transactions precede bad news events? Not recently. This paper examines short sale transactions around significant news events. Using a novel and comprehensive dataset covering dailyExpand
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A Framework for Identifying Accounting Characteristics for Asset Pricing Models, with an Evaluation of Book�?To�?Price
We provide a framework for identifying accounting numbers that indicate risk and expected return. Under specified accounting conditions for measuring earnings and book value, book‐to‐price (B/P)Expand
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Premium Pay for Executive Talent: An Empirical Analysis
We examine the extent to which executive talent at the time of the hire affects the design of the executive’s compensation contract at the hiring firm. Using a sample of executives who switched jobsExpand
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Asset Measurement Uncertainty and Credit Term Structure
In this paper, we test the impact of uncertainty in asset measurement on credit term-structure. The theory of Duffie and Lando (2001) suggests that the inability of creditors to assess asset valuesExpand
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Accounting for Taste: Board Member Preferences and Corporate Policy Choices
This paper explores whether firms that share common directors also pursue similar corporate policies. Using a sample of 885 U.S. firms with common directors, we find that director fixed effectsExpand
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Social Networks: The Impact on Firms’ Information Environment and Corporate Communication
We construct an interlocking-directorship network and we use social network and graph theory to identify firms that have access to a wider diversity of information, early access to that informationExpand
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An Accounting-Based Characteristic Model for Asset Pricing
The paper presents an accounting framework for identifying characteristics that indicate expected returns. A model links expected returns to expected earnings and earnings growth, so a characteristicExpand
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