Divya Anantharaman

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Retirement Research Consortium (RRC). The opinions and conclusion expressed are solely those of the authors and do not represent the opinions or policy of SSA, any agency of the federal government, the RRC, Rutgers Business School, or Boston College. was established in 1998 through a grant from the Social Security Administration. The Center's mission is to(More)
Eventually the Dodd-Frank Act of 2010 will require all publicly traded companies to implement clawback provisions. In the interim, some firms have chosen to implement the provisions voluntarily. Using the population of S&P 1500 firms over the period 2005-2009, we investigate the characteristics of firms that voluntarily adopt clawback provisions and those(More)
Agency theory posits that debt-like compensation (such as defined-benefit pensions and other deferred compensation) aligns managerial interests more closely with those of debtholders and reduces the agency cost of debt. Consistent with theory, we find that a higher CEO relative leverage, defined as the ratio of the CEO's inside leverage (debt-to-equity(More)
This study examines the recognition of non-amortizable intangible assets (goodwill and indefinite-life intangible assets) in purchase price allocation following business combinations. Under SFAS 142, these assets are not amortized; instead, they are subject to a mandatory annual impairment test. As a consequence, allocation to non-amortizable intangible(More)
Pension experts have long conjectured that pension accounting rules encourage firms to invest pension assets in risky asset classes (Zion and Carcache 2003, Gold 2005). The recent passage of IAS 19 Employee Benefits (Revised) (" IAS 19R ") marks a fundamental shift in pension accounting on the income statement, by removing the use of the expected rate of(More)
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