Substitution between real and accruals-based earnings management after voluntary adoption of compensation clawback provisions
To deter financial misstatements, many companies have recently adopted compensation
recovery policies—commonly known as “clawbacks”—that authorize the board to recoup …
recovery policies—commonly known as “clawbacks”—that authorize the board to recoup …
Performance-vesting provisions in executive compensation
The usage of performance-vesting (pv) equity awards to top executives in large US
companies has grown from 20 to 70 percent from 1998 to 2012. We measure the effects of …
companies has grown from 20 to 70 percent from 1998 to 2012. We measure the effects of …
Executive equity risk-taking incentives and audit pricing
Using a large sample of US firms spanning the period 2000–2010, we document a strong
positive association between the sensitivity of CEO compensation portfolio to stock return …
positive association between the sensitivity of CEO compensation portfolio to stock return …
The effects of firm-initiated clawback provisions on bank loan contracting
Although firm-initiated clawbacks reduce accounting manipulation, they also induce
managers to engage in suboptimal activities (eg, reduce research and development (R&D) …
managers to engage in suboptimal activities (eg, reduce research and development (R&D) …
Can shareholders be at rest after adopting clawback provisions? Evidence from stock price crash risk
Using a propensity score matched sample and a difference‐in‐differences research design,
we find that stock price crash risk increases after a firm voluntarily incorporates clawback …
we find that stock price crash risk increases after a firm voluntarily incorporates clawback …
The effect of voluntary clawback adoption on non-GAAP reporting
We examine the effect of voluntary adoption of clawback provisions on non-GAAP earnings
disclosures. Prior literature documents that voluntary clawback adoption improves financial …
disclosures. Prior literature documents that voluntary clawback adoption improves financial …
Auditor independence in the United States: Cornerstone of the profession or thorn in our side?
The objective of this paper is to provide a systematic evaluation of independence as a
foundational element of the auditing profession. We maintain that while independence is a …
foundational element of the auditing profession. We maintain that while independence is a …
CEO attributes, compensation, and firm value: Evidence from a structural estimation
TB Page - Journal of Financial Economics, 2018 - Elsevier
I present and estimate a dynamic model of chief executive officer (CEO) compensation and
effort provision. I find that variation in CEO attributes explains the majority of variation in …
effort provision. I find that variation in CEO attributes explains the majority of variation in …
The costs and benefits of clawback provisions in CEO compensation
We analyze the costs and benefits of clawback provisions that enable firms to recover
incentive compensation from top management if financials are restated. In a simple …
incentive compensation from top management if financials are restated. In a simple …
Why do restatements decrease in a clawback environment? An investigation into financial reporting executives' decision-making during the restatement process
JS Pyzoha - The Accounting Review, 2015 - publications.aaahq.org
Prior archival studies find that firms that voluntarily adopted clawback policies have
experienced a reduction in restatements. I experimentally examine this outcome by …
experienced a reduction in restatements. I experimentally examine this outcome by …