We propose a continuous time utility maximization model to value stock and option compensation from the executive's perspective. We allow the executive to invest non-option wealth in the market and riskless asset but not in the company stock itself. This enables executives to adjust exposure to market risk, but they are subject to firm-specific risk for incentive purposes. Since the executive i...

Accounts of speech perception differ on whether vocal tract gestures (Fowler, 1986, e.g.) or the acoustic signal itself (Diehl, Lotto, and Holt, 2004) constitute the proper objects of speech perception. One extensively studied phenomenon, that has been used to distinguish these two kinds of accounts, is perceptual compensation for coarticulation. However, little agreement exists regarding the i...

Purpose The authors investigate how executive pay and its gap with employee influence the performance of Thailand tourism listed companies. Design/methodology/approach manually collect data on executives' employees' remunerations for companies use authors’ OLS regression analysis. To check robustness results to potential endogeneity issues, employ two-stage least-squares analysis impact thresho...

The purpose of this study is to find out the influence tobin's-q, return on asset, women as CEO, board independence, institutional ownership, concentrated and firm size towards CEO compensation in companies listed LQ-45 Index Indonesia Stock Exchange for period 2016-2020. This uses a quantitative perspective with linear regression model data panel. number 205 was observed continuously five year...

Executive remuneration has been less analysed and there is need for scrutiny on executive compensation structures their implications corporate governance. The study aimed to ascertain the role of in accelerating agency governance problems FTSE/JSE Top-40 companies from 2008 - 2016. A Generalised Method Moments was employed, results revealed that can be accelerants as performance found negativel...

Publicly traded Chinese firms recently reformed their ownership structures by converting non-tradable shares, which constituted two-thirds of shares outstanding and were held largely by the state, into shares that could trade on domestic exchanges. To facilitate this reform, tradable shareholders were compensated with stock grants from non-tradable shareholders. Our analysis focuses on the leve...

This paper theoretically and empirically investigates the role of CEO career concerns on accruals based and real activities earnings management. We develop a model of earnings management, rooted in career concerns, that alternatively incorporates the features of the accrual accounting performance measurement system and the negative value-destroying effects of real activities earnings management...

Bank executives’ compensation has been widely identified as a culprit in the Global Financial Crisis, and reform of banker pay is high on the public policy agenda. While Congress targeted its reforms primarily at bankers’ equity-based pay incentives, empirical research fails to show any correlation between bank CEO equity incentives and bank performance in the Financial Crisis. We offer an alte...