Zobrazeno 1 - 10
of 78
pro vyhledávání: '"Todd T. Milbourn"'
Publikováno v:
The Accounting Review, 96(4), 341-366. American Accounting Association
Relative Performance Evaluation (RPE) theory predicts that firms filter out common shocks (i.e., those affecting the firm and its peers) while evaluating CEO performance, and that the extent of filtering increases with the number of firms in the peer
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::81532cddfe4ea2669388517d4cffa78f
https://dare.uva.nl/personal/pure/en/publications/product-market-peers-and-relative-performance-evaluation(4b941ee6-71b9-4b3b-bfb6-c546bc3a0366).html
https://dare.uva.nl/personal/pure/en/publications/product-market-peers-and-relative-performance-evaluation(4b941ee6-71b9-4b3b-bfb6-c546bc3a0366).html
Autor:
Kingsley Wabara, Todd T. Milbourn
Publikováno v:
SSRN Electronic Journal.
Using a novel measure, we study how the personal religiosity (or sense of higher purpose) of independent directors affects the effectiveness of their intense board oversight. We find that, relative to their non-religious counterparts, religious monit
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c4702966b4b1cbc71169e6589b793040
https://doi.org/10.2139/ssrn.3805416
https://doi.org/10.2139/ssrn.3805416
Publikováno v:
Journal of Financial Economics. 124:307-330
Using a large data set of performance goals employed in executive incentive contracts, we find that a disproportionately large number of firms exceed their goals by a small margin as compared to the number that fall short of the goal by a similar mar
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a1a3fcbb45c422075af0172a0513411e
https://doi.org/10.1016/j.jfineco.2017.01.010
https://doi.org/10.1016/j.jfineco.2017.01.010
Publikováno v:
SSRN Electronic Journal.
We study the effects of stock price informativeness (SPI) on the complexity of executive compensation. Using textual analysis of SEC proxy statements to construct measures of compensation complexity, we find informative stock prices reduce pay comple
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6d626277e3faf01c595b0a46b07f4877
https://doi.org/10.2139/ssrn.3347955
https://doi.org/10.2139/ssrn.3347955
Publikováno v:
SSRN Electronic Journal.
We study the motive of using equity-based pay in executive compensation: the risk-sharing motive versus the performance-measuring motive. The empirical design goes through the relationship between equity-based pay and stock price informativeness (SPI
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::fd66bd6c3042d001439d2d6b3100e39c
https://doi.org/10.2139/ssrn.3125875
https://doi.org/10.2139/ssrn.3125875
Publikováno v:
SSRN Electronic Journal.
We study the effect of legal risk on firms’ investment. Using legal risk measures based on the number of litigious words in SEC 10-K filings, we find legal risk reduces investment. Underlying mechanisms include both i) a financing channel, whereby
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::cfb505365d5d5c5a1389fc5a2947c1cc
https://doi.org/10.2139/ssrn.3247688
https://doi.org/10.2139/ssrn.3247688
Publikováno v:
Management Science. 61:2845-2869
Market-based theories predict that differences in CEO skills lead to potentially large differences in pay, but it is challenging to quantify the CEO skill premium in pay. In a first step toward overcoming this empirical challenge, we code detailed bi
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::ffa5dc6416c29a69cc90d57326b94688
https://doi.org/10.1287/mnsc.2014.2024
https://doi.org/10.1287/mnsc.2014.2024
Publikováno v:
The Journal of Finance. 69:2777-2817
Extensive discussions on the inefficiencies of �short-termism� in executive compensation notwithstanding, little is known empirically about the extent of such short-termism. We develop a novel measure of executive pay duration that reflects the v
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::540030a7004b5184170f2c3ed806439b
https://doi.org/10.1111/jofi.12085
https://doi.org/10.1111/jofi.12085
Autor:
Sudarshan Jayaraman, Todd T. Milbourn
Publikováno v:
The Accounting Review. 90:321-350
Prior studies find inconsistent evidence regarding the effect of CEO equity incentives on financial misreporting. We argue that this inconsistency stems from not considering detection mechanisms that mitigate the effect of equity incentives on misrep
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::1956f1df6a9827303a7c16a96ce9aaed
https://doi.org/10.2308/accr-50854
https://doi.org/10.2308/accr-50854
Publikováno v:
Journal of Accounting and Economics. 56:79-101
Our paper sheds new light on the theoretically ambiguous effect of stock options on managerial incentives for risk-taking by analyzing how equity-based incentives affect firms’ responses to an unanticipated and exogenous increase in risk. The parti
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a029d322054966629ca0b3fa38a6ef93
https://doi.org/10.1016/j.jacceco.2013.08.001
https://doi.org/10.1016/j.jacceco.2013.08.001