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Working paper
Corporate Governance, Board Oversight, and CEO Turnover
In: Foundations and Trends in Accounting, Forthcoming
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On the benefits of allowing CEOs to time their stock option exercises
In: The Rand journal of economics, Band 41, Heft 1, S. 118-138
ISSN: 1756-2171
What Role do Boards Play in Companies with Visionary CEOs?
In: Journal of Accounting Research, Forthcoming
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Accounting Conservatism and Managerial Information Acquisition
In: Journal of Accounting & Economics (JAE), Forthcoming
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Working paper
Managerial Optimism and Debt Covenants
In: Journal of Accounting Research, Band 60
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Early Warning Signals and Risk-Shifting Incentives
In: The Accounting Review, Forthcoming
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Managerial Optimism and Debt Covenants
SSRN
Working paper
Conservative Accounting, Audit Quality, and Litigation
SSRN
Working paper
Board Committees, CEO Compensation, and Earnings Management
We analyze the effect of committee formation on how corporate boards perform two main functions: setting CEO pay and overseeing the financial reporting process. The use of performance-based pay schemes induces the CEO to manipulate earnings, which leads to an increased need for board oversight. If the whole board is responsible for both functions, it is inclined to provide the CEO with a compensation scheme that is relatively insensitive to performance in order to reduce the burden of subsequent monitoring. When the functions are separated through the formation of committees, the compensation committee is willing to choose a higher pay-performance sensitivity as the increased cost of oversight is borne by the audit committee. Our model generates predictions relating the board committee structure to the pay-performance sensitivity of CEO compensation, the quality of board oversight, and the level of earnings management.
BASE
Performance Measurement and Information Production
In: Journal of institutional and theoretical economics: JITE, Band 162, Heft 3, S. 412
ISSN: 1614-0559
Signaling Private Information via Accounting System Design
In: Journal of Accounting & Economics (JAE), Forthcoming
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Working paper