Market reaction to executive compensation disclosure: evidence from the Security and Exchange Commission's 1992 disclosure initiatives
| Autor: | Sullivan, Jared James Crofts |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2008 |
| Zdroj: | Montana State University. |
| Druh dokumentu: | Diplomová práce |
| Popis: | The SEC's disclosure initiatives passed in 1992 required increased levels of executive compensation disclosure accompanied by new formats for disclosure. I examine the market response to this new regulation at the firm level. I also test for external information spillovers. I find no evidence that the market systematically values the additional information provided by the new proxy format. I also find no evidence of new information spillovers being created by the new disclosure mandates; lending no support for proscriptive regulations. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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