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Author: Pongsatorn Dankul Publisher: ISBN: Category : Compensation management Languages : en Pages : 104
Book Description
Prior studies provide the evidence of using earnings management to increase the value of compensation. When managers and independent directors' cash compensations are based on firm's financial performance, it may lead those who pursue self-interest to give appearance of better performance through earnings management. This thesis examines the relation between earnings management, cash compensation and corporate governance. This thesis also examines the impact of cash compensation and corporate governance on adjusted firm financial performance with the effects of earnings management. This thesis further investigate whether market react to the change in cash compensation and discretionary accruals around the form 56-1 announcement date. Sample in this thesis is Thai listed firms in Stock Exchange of Thailand during 2005 to 2013. The results suggest the change in cash compensation of executive officers does not relate to earnings management. Increasing the cash compensation for executive officers improves the firm financial performance. The increasing in cash compensation of independent directors help reducing the use of earnings management.
Author: Pongsatorn Dankul Publisher: ISBN: Category : Compensation management Languages : en Pages : 104
Book Description
Prior studies provide the evidence of using earnings management to increase the value of compensation. When managers and independent directors' cash compensations are based on firm's financial performance, it may lead those who pursue self-interest to give appearance of better performance through earnings management. This thesis examines the relation between earnings management, cash compensation and corporate governance. This thesis also examines the impact of cash compensation and corporate governance on adjusted firm financial performance with the effects of earnings management. This thesis further investigate whether market react to the change in cash compensation and discretionary accruals around the form 56-1 announcement date. Sample in this thesis is Thai listed firms in Stock Exchange of Thailand during 2005 to 2013. The results suggest the change in cash compensation of executive officers does not relate to earnings management. Increasing the cash compensation for executive officers improves the firm financial performance. The increasing in cash compensation of independent directors help reducing the use of earnings management.
Author: Bo Sun Publisher: DIANE Publishing ISBN: 1437930980 Category : Business & Economics Languages : en Pages : 33
Book Description
Analyzes executive compensation in a setting where managers may take a costly action to manipulate corporate performance, and whether managers do so is stochastic. Examines how the opportunity to manipulate affects the optimal pay contract, and establishes necessary and sufficient conditions under which earnings management occurs. The author¿s model provides a set of implications on the role earnings management plays in driving the time-series and cross-sectional variation of executive compensation. In addition, the model's predictions regarding the changes of earnings management and executive pay in response to corporate governance legislation are consistent with empirical observations. Charts and tables.
Author: David Aboody Publisher: Now Publishers Inc ISBN: 1601983425 Category : Business & Economics Languages : en Pages : 98
Book Description
Executive Compensation and Financial Accounting provides research perspectives on the interface between financial reporting and disclosure policies and executive compensation. In particular, it focuses on two important dimensions: - the effects of compensation-based incentives on executives' financial accounting and disclosure choices, and - the role of financial reporting and income tax regulations in shaping executive compensation practices. Executive Compensation and Financial Accounting examines the key dimensions of the relation between financial accounting and executive compensation. Specifically, the authors examine the extent to which compensation plans create incentives for executives to make particular financial reporting and disclosure choices. They also examine the extent to which accounting regulation creates incentives for firms to design particular compensation plans for their executives.
Author: Joshua Ronen Publisher: Springer Science & Business Media ISBN: 0387257713 Category : Business & Economics Languages : en Pages : 587
Book Description
This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Author: Vieira, Elisabete S. Publisher: IGI Global ISBN: 1799875989 Category : Business & Economics Languages : en Pages : 433
Book Description
New trends are emerging regarding earnings management and corporate governance showing similarities and striking differences in the practices of different countries and economies. These new trends currently shape the field of modern corporate governance with crucial issues being looked at in governance law and practices, accounting systems, earnings quality and management, stakeholder involvement, and more. In order to advance these new avenues in corporate governance, research looks at accounting policies firms use in different opportunistic circumstances in order to manage earnings, the corporate governance practices in different countries, firm performance, and other dimensions of companies. The understanding of these topics is beneficial in understanding the current state of different types of firms and their practices in modern times. Comparative Research on Earnings Management, Corporate Governance, and Economic Value is focused on the investigation of key challenges and perspectives of corporate governance and earnings management and outlines possible scenarios of its development. The chapters explore this new avenue of research and cover theoretical, empirical, and experimental studies related to different themes in the global context of earnings management and corporate governance. This book is ideal for economists, businesses, managers, accountants, practitioners, stakeholders, researchers, academicians, and students who are interested in the current issues and advancements in corporate governance and earnings management.
Author: Bo Sun Publisher: ISBN: Category : Corporate governance Languages : en Pages : 42
Book Description
This paper analyzes executive compensation in a setting where managers may take a costly action to manipulate corporate performance, and whether managers do so is stochastic. We examine how the opportunity to manipulate affects the optimal pay contract, and establish necessary and sufficient conditions under which earnings management occurs. Our model provides a set of implications on the role earnings management plays in driving the time-series and cross-sectional variation of executive compensation. In addition, the model's predictions regarding the changes of earnings management and executive pay in response to corporate governance legislation are consistent with empirical observations.
Author: Lucian Bebchuk Publisher: Harvard University Press ISBN: 067426195X Category : Business & Economics Languages : en Pages : 293
Book Description
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: Lucian A. Bebchuk Publisher: Harvard University Press ISBN: 9780674020634 Category : Business & Economics Languages : en Pages : 308
Book Description
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: Sabri Boubaker Publisher: Springer Science & Business Media ISBN: 3642315798 Category : Business & Economics Languages : en Pages : 445
Book Description
The current crisis has rocked the financial system worldwide and has cast doubt on the effectiveness of the existing regulatory regime. Thousands of firms have gone bankrupt and many financial institutions were bailed out by governments. The effects of the crisis have shaken emerging and developing markets alike and have not spared neither small nor large businesses. Many scholars and practitioners attribute the roots of the crisis to failures and weaknesses in the way corporate governance has been practiced since the mid-1990s. Lax board oversight of top management, short-termism and self-interested behavior have been fingered as the culprits behind recent financial turmoil. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues. This book highlights the recent developments and new trends in corporate governance. The eighteen chapters, written by leading academics and experts, can assist corporate executives, governance bodies, investors, market regulators, and policymakers in having a global picture of major corporate governance issues.
Author: Pongsatorn Dankul
Author: Pongsatorn Dankul
Author: Bo Sun
Author: David Aboody
Author: Joshua Ronen
Author: Vieira, Elisabete S.
Author: Bo Sun
Author: Lucian Bebchuk
Author: Adam J. Greiner
Author: Lucian A. Bebchuk
Author: Sabri Boubaker