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Investment opportunities and the structure of executive compensation
We extend the contracting paradigm advanced in Smith and Watts (1992) to consider cross-sectional associations between investment opportunities and the sensitivity of CEO compensation to performanceExpand
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Corporate Governance, Takeovers, and Top-Management Compensation: Theory and Evidence
We examine, both theoretically and empirically, top-management compensation in the presence of agency conflicts when shareholders have delegated governance responsibilities to a self-interested Board of Directors (BOD). Expand
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Accounting earnings and executive compensation:: The role of earnings persistence
This study investigates whether relations between accounting earnings and executive compensation depend on earnings persistence. The analysis is informed by prior studies that link executiveExpand
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Issues In Testing Earnings Management And An Instrumental Variable Approach
In empirical studies of earnings management (EMI), a central issue is the estimation of the managed component (discretionary accruals) when outsiders observe only the sum of the managed and unmanagedExpand
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Stock Price Reaction to Evidence of Earnings Management: Implications for Supplementary Financial Disclosure
We condition security price reactions to quarterly earnings announcements on whether firms disclose supplementary balance sheet and/or cashflow information that can be used to estimate theExpand
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Modeling Discretionary Accrual Reversal and the Balance Sheet as an Earnings Management Constraint
ABSTRACT:  This study presents conceptual and empirical analyses of discretionary accrual reversal in the earnings management context. We specifically focus on the extent that income-increasing (de...
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Corporate Governance, Expected Operating Performance, and Pricing
We examine whether ownership and governance characteristics are associated with the firm s operating performance and stock price. We hypothesize that while ownership structure and governanceExpand
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The Explanatory Power of Earnings Levels vs. Earnings Changes in the Context of Executive
Studies in the capital market context indicate that earnings changes and earnings levels considered jointly provide a more comprehensive representation of unexpected earnings than either earningsExpand
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Analysts' Interim Earnings Forecasts: Evidence on the Forecasting Process
Existing empirical evidence indicates that analyst forecasts of corporate earnings do not meet the strict rationality standards prescribed by econometric tests of the rational expectationsExpand
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The Impact of Split Adjusting and Rounding on Analysts' Forecast Error Calculations
This study finds that analysts' forecast data files, commonly used by accountants and financial analysts to estimate market expectations about earnings announcements, contain inaccurate historicalExpand
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