Comprehensive Disclosure of Compensation and Firm Value : The Case of Policy Reforms in an Emerging Market

@inproceedings{Sheu2008ComprehensiveDO,
  title={Comprehensive Disclosure of Compensation and Firm Value : The Case of Policy Reforms in an Emerging Market},
  author={Her-Jiun Sheu and Huimin Chung and Chih-Liang Liu},
  year={2008}
}
ABSTRACT This paper analyzes the association between voluntary disclosure of compensation and firm value based on the notion that comprehensive information on compensation provides higher transparency signals and lower agency conflict. The evidence shows that firms voluntarily disclosing comprehensive information on director and executive compensation are evaluated with higher market value. However, the compensation disclosure provided by firms using large proportion of reserved bonus and the… CONTINUE READING

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