Understanding earnings quality: A review of the proxies, their determinants and their consequences
Researchers have used various measures as indications of “earnings quality” including
persistence, accruals, smoothness, timeliness, loss avoidance, investor responsiveness …
persistence, accruals, smoothness, timeliness, loss avoidance, investor responsiveness …
Executive compensation: A survey of theory and evidence
This paper reviews the theoretical and empirical literature on executive compensation. We
start by presenting data on the level of CEO and other top executive pay over time and …
start by presenting data on the level of CEO and other top executive pay over time and …
Does corporate social responsibility affect the cost of capital?
We examine the effect of corporate social responsibility (CSR) on the cost of equity capital
for a large sample of US firms. Using several approaches to estimate firms' ex ante cost of …
for a large sample of US firms. Using several approaches to estimate firms' ex ante cost of …
Is earnings quality associated with corporate social responsibility?
This study examines whether socially responsible firms behave differently from other firms in
their financial reporting. Specifically, we question whether firms that exhibit corporate social …
their financial reporting. Specifically, we question whether firms that exhibit corporate social …
Real and accrual‐based earnings management in the pre‐and post‐Sarbanes‐Oxley periods
We document that accrual‐based earnings management increased steadily from 1987 until
the passage of the Sarbanes‐Oxley Act (SOX) in 2002, followed by a significant decline after …
the passage of the Sarbanes‐Oxley Act (SOX) in 2002, followed by a significant decline after …
Accrual-based and real earnings management activities around seasoned equity offerings
We show that SEO firms engage in real activities manipulation, and the decline in post-SEO
performance due to the real activities management is more severe than that due to accrual …
performance due to the real activities management is more severe than that due to accrual …
Opaque financial reports, R2, and crash risk
We investigate the relation between the transparency of financial statements and the
distribution of stock returns. Using earnings management as a measure of opacity, we find …
distribution of stock returns. Using earnings management as a measure of opacity, we find …
Corporate governance and firm performance
How is corporate governance measured? What is the relationship between corporate
governance and performance? This paper sheds light on these questions while taking into …
governance and performance? This paper sheds light on these questions while taking into …
Do managers withhold bad news?
In this study, we examine whether managers delay disclosure of bad news relative to good
news. If managers accumulate and withhold bad news up to a certain threshold, but leak …
news. If managers accumulate and withhold bad news up to a certain threshold, but leak …
Why has CEO pay increased so much?
This paper develops a simple equilibrium model of CEO pay. CEOs have different talents
and are matched to firms in a competitive assignment model. In market equilibrium, a CEO's …
and are matched to firms in a competitive assignment model. In market equilibrium, a CEO's …