کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5100516 | 1377226 | 2016 | 24 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Relative peer quality and firm performance
ترجمه فارسی عنوان
کیفیت همکار نسبی و عملکرد شرکت
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
چکیده انگلیسی
We examine the performance impact of the relative quality of a Chief Executive Officer (CEO)'s compensation peers (peers to determine a CEO's overall compensation) and bonus peers (peers to determine a CEO's relative-performance-based bonus). We use the fraction of peers with greater managerial ability scores (Demerjian, Lev, and McVay, 2012) than the reporting firm to measure this CEO's relative peer quality (RPQ). We find that firms with higher RPQ earn higher stock returns and experience higher profitability growth than firms with lower RPQ. Learning among peers and the increased incentive to work harder induced by the peer-based tournament contribute to RPQ's performance effect.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 122, Issue 1, October 2016, Pages 196-219
Journal: Journal of Financial Economics - Volume 122, Issue 1, October 2016, Pages 196-219
نویسندگان
Bill Francis, Iftekhar Hasan, Sureshbabu Mani, Ye Pengfei,