کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
960492 929478 2008 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Corporate governance and pay-for-performance: The impact of earnings management
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Corporate governance and pay-for-performance: The impact of earnings management
چکیده انگلیسی

We ask whether the apparent impact of governance structure and incentive-based compensation on firm performance stands up when measured performance is adjusted for the effects of earnings management. Institutional ownership of shares, institutional investor representation on the board of directors, and the presence of independent outside directors on the board all reduce the use of discretionary accruals. These factors largely offset the impact of option compensation, which strongly encourages earnings management. Adjusting for the impact of earnings management substantially increases the measured importance of governance variables and dramatically decreases the impact of incentive-based compensation on corporate performance.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 87, Issue 2, February 2008, Pages 357–373
نویسندگان
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