کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
8960851 1646439 2018 68 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Performance-vesting provisions in executive compensation
ترجمه فارسی عنوان
مقررات اجرایی عملکرد در جبران اجباری
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
چکیده انگلیسی
The usage of performance-vesting (p-v) equity awards to top executives in large U.S. companies has grown from 20 to 70 percent from 1998 to 2012. We measure the effects of p-v provisions on value, delta, and vega of equity-based compensation. We find large differences in the value of p-v awards reported in company disclosures versus economic value. We also find that equity-based grants continue to convey significant compensation convexity (vega) after ASC 718 (2005) and that, counter to recent claims in the literature, our analysis empirically reaffirms the presence of a causal relation between compensation convexity (vega) and firm risk.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Economics - Volume 66, Issue 1, August 2018, Pages 194-221
نویسندگان
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