Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/eee/intfin/v55y2018icp29-49.html
   My bibliography  Save this article

Accounting discretion and executive cash compensation: An empirical investigation of corporate governance, credit ratings and firm value

Author

Listed:
  • Emmanuel Iatridis, George
Abstract
This study focuses on executive compensation that takes the form of cash. It examines the association between executive compensation and corporate governance, income smoothing, discretionary accruals and firm value. It also investigates the possibility of employing earnings manipulation practices when current credit ratings differ from their expected ratings. This study shows that executive cash compensation is negatively associated with corporate governance. Analyst following, company size and debt are negatively related to executive compensation. In contrast, a positive association has been reported for high growth. Executive cash compensation is positively associated with discretionary accruals and negatively with firm value. Firms that pay cash compensation are likely to engage in earnings manipulation when their actual credit ratings differ from their expected ratings. They are also likely to engage in earnings manipulation with the intent of returning to an expected credit rating when the current ratings have drifted.

Suggested Citation

  • Emmanuel Iatridis, George, 2018. "Accounting discretion and executive cash compensation: An empirical investigation of corporate governance, credit ratings and firm value," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 55(C), pages 29-49.
    • Handle: RePEc:eee:intfin:v:55:y:2018:i:c:p:29-49
    DOI: 10.1016/j.intfin.2018.02.008
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1042443116302451
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.intfin.2018.02.008?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Anwer S. Ahmed & Scott Duellman, 2013. "Managerial Overconfidence and Accounting Conservatism," Journal of Accounting Research, Wiley Blackwell, vol. 51(1), pages 1-30, March.
    2. Haniffa, R.M. & Cooke, T.E., 2005. "The impact of culture and governance on corporate social reporting," Journal of Accounting and Public Policy, Elsevier, vol. 24(5), pages 391-430.
    3. Jill Frances Solomon & Aris Solomon, 2006. "Private social, ethical and environmental disclosure," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 19(4), pages 564-591, July.
    4. Michael C. Jensen, 2010. "The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 43-58, January.
    5. Karolyi, G. Andrew, 2012. "Corporate governance, agency problems and international cross-listings: A defense of the bonding hypothesis," Emerging Markets Review, Elsevier, vol. 13(4), pages 516-547.
    6. Feito-Ruiz, Isabel & Renneboog, Luc, 2017. "Takeovers and (excess) CEO compensation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 156-181.
    7. Yanmin Gao & Jeong-Bon Kim & Desmond Tsang & Haibin Wu, 2017. "Go before the whistle blows: an empirical analysis of director turnover and financial fraud," Review of Accounting Studies, Springer, vol. 22(1), pages 320-360, March.
    8. Francis, Jennifer, 2001. "Discussion of empirical research on accounting choice," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 309-319, September.
    9. K.V. Peasnell & P.F. Pope & S. Young, 2005. "Board Monitoring and Earnings Management: Do Outside Directors Influence Abnormal Accruals?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7‐8), pages 1311-1346, September.
    10. Michael John Jones, 2010. "Accounting for the environment: Towards a theoretical perspective for environmental accounting and reporting," Accounting Forum, Taylor & Francis Journals, vol. 34(2), pages 123-138, June.
    11. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    12. Denis Cormier & Michel Magnan & Barbara Van Velthoven, 2005. "Environmental disclosure quality in large German companies: Economic incentives, public pressures or institutional conditions?," European Accounting Review, Taylor & Francis Journals, vol. 14(1), pages 3-39.
    13. repec:bla:jfinan:v:58:y:2003:i:2:p:519-548 is not listed on IDEAS
    14. Jaggi, Bikki & Low, Pek Yee, 2000. "Impact of Culture, Market Forces, and Legal System on Financial Disclosures," The International Journal of Accounting, Elsevier, vol. 35(4), pages 495-519, 010.
    15. Ch. Spathis & M. Doumpos & C. Zopounidis, 2002. "Detecting falsified financial statements: a comparative study using multicriteria analysis and multivariate statistical techniques," European Accounting Review, Taylor & Francis Journals, vol. 11(3), pages 509-535.
    16. Patricia M. Dechow & Scott A. Richardson & Richard G. Sloan, 2008. "The Persistence and Pricing of the Cash Component of Earnings," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 537-566, June.
    17. Anne Beyer & Ilan Guttman & Iván Marinovic, 2014. "Optimal Contracts with Performance Manipulation," Journal of Accounting Research, Wiley Blackwell, vol. 52(4), pages 817-847, September.
    18. Fabrizio Cerbioni & Antonio Parbonetti, 2007. "Exploring the Effects of Corporate Governance on Intellectual Capital Disclosure: An Analysis of European Biotechnology Companies," European Accounting Review, Taylor & Francis Journals, vol. 16(4), pages 791-826.
    19. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    20. Leuz, Christian & Nanda, Dhananjay & Wysocki, Peter D., 2003. "Earnings management and investor protection: an international comparison," Journal of Financial Economics, Elsevier, vol. 69(3), pages 505-527, September.
    21. Joseph V. Carcello & Terry L. Neal & Zoe†Vonna Palmrose & Susan Scholz, 2011. "CEO Involvement in Selecting Board Members, Audit Committee Effectiveness, and Restatements," Contemporary Accounting Research, John Wiley & Sons, vol. 28(2), pages 396-430, June.
    22. Otto, Clemens A., 2014. "CEO optimism and incentive compensation," Journal of Financial Economics, Elsevier, vol. 114(2), pages 366-404.
    23. Fields, Thomas D. & Lys, Thomas Z. & Vincent, Linda, 2001. "Empirical research on accounting choice," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 255-307, September.
    24. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    25. Guangdi Chang & Fulwood Chen, 2013. "CEO Behavior and Subprime Mortgage Crisis," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 7(3), pages 13-25.
    26. Alissa, Walid & Bonsall, Samuel B. & Koharki, Kevin & Penn, Michael W., 2013. "Firms' use of accounting discretion to influence their credit ratings," Journal of Accounting and Economics, Elsevier, vol. 55(2), pages 129-147.
    27. Chrisostomos Florackis, 2008. "Agency costs and corporate governance mechanisms: evidence for UK firms," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 4(1), pages 37-59, January.
    28. Premuroso, Ronald F. & Skantz, Terrance R. & Bhattacharya, Somnath, 2012. "Disclosure of outsourcing in the annual report: Causes and market returns effects," International Journal of Accounting Information Systems, Elsevier, vol. 13(4), pages 382-402.
    29. Dittmar, Amy & Mahrt-Smith, Jan, 2007. "Corporate governance and the value of cash holdings," Journal of Financial Economics, Elsevier, vol. 83(3), pages 599-634, March.
    30. Graham, John R. & Harvey, Campbell R., 2001. "The theory and practice of corporate finance: evidence from the field," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 187-243, May.
    31. Core, John E. & Holthausen, Robert W. & Larcker, David F., 1999. "Corporate governance, chief executive officer compensation, and firm performance," Journal of Financial Economics, Elsevier, vol. 51(3), pages 371-406, March.
    32. Alexander Dyck & Adair Morse & Luigi Zingales, 2010. "Who Blows the Whistle on Corporate Fraud?," Journal of Finance, American Finance Association, vol. 65(6), pages 2213-2253, December.
    33. Ball, Ray & Kothari, S. P. & Robin, Ashok, 2000. "Corrigendum to "The effect of international institutional factors on properties of accounting earnings"; [Journal of Accounting and Economics 29 (2000) 1-51]," Journal of Accounting and Economics, Elsevier, vol. 30(2), pages 241-241, October.
    34. Andres Almazan & Javier Suarez, 2003. "Entrenchment and Severance Pay in Optimal Governance Structures," Journal of Finance, American Finance Association, vol. 58(2), pages 519-547, April.
    35. Darren J. Kisgen, 2006. "Credit Ratings and Capital Structure," Journal of Finance, American Finance Association, vol. 61(3), pages 1035-1072, June.
    36. Arijit Ghosh, 2006. "Determination of Executive Compensation in an Emerging Economy. Evidence from India," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 42(3), pages 66-90, May.
    37. Sudheer Chava & Praveen Kumar & Arthur Warga, 2010. "Managerial Agency and Bond Covenants," The Review of Financial Studies, Society for Financial Studies, vol. 23(3), pages 1120-1148, March.
    38. Clemens A. Otto, 2014. "CEO optimism and incentive compensation," Post-Print hal-01097589, HAL.
    39. Henrekson, Magnus & Jakobsson, Ulf, 2011. "The Swedish Corporate Control Model: Convergence, Persistence or Decline?," Working Paper Series 857, Research Institute of Industrial Economics.
    40. Lambert, Richard A., 2001. "Contracting theory and accounting," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 3-87, December.
    41. Yermack, David, 1995. "Do corporations award CEO stock options effectively?," Journal of Financial Economics, Elsevier, vol. 39(2-3), pages 237-269.
    42. Bernard Ben Sita & Abdallah M. Dah & Waddah Hallak, 2013. "Evidence on managerial entrenchment effects on firm value," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 6(2), pages 93-104.
    43. Klein, April, 2002. "Audit committee, board of director characteristics, and earnings management," Journal of Accounting and Economics, Elsevier, vol. 33(3), pages 375-400, August.
    44. Lee Pinkowitz & René Stulz & Rohan Williamson, 2006. "Does the Contribution of Corporate Cash Holdings and Dividends to Firm Value Depend on Governance? A Cross‐country Analysis," Journal of Finance, American Finance Association, vol. 61(6), pages 2725-2751, December.
    45. Bernard Taylor, 2004. "Leading the Boardroom Revolution," Corporate Governance: An International Review, Wiley Blackwell, vol. 12(4), pages 415-425, October.
    46. Xie, Biao & Davidson, Wallace III & DaDalt, Peter J., 2003. "Earnings management and corporate governance: the role of the board and the audit committee," Journal of Corporate Finance, Elsevier, vol. 9(3), pages 295-316, June.
    47. Walid M. Alissa & Samuel B. Bonsall Iv & Kevin Koharki & Michael W. Penn Jr., 2013. "Firms' use of accounting discretion to influence their credit ratings," Post-Print hal-01069190, HAL.
    48. Michael Faulkender & Rong Wang, 2006. "Corporate Financial Policy and the Value of Cash," Journal of Finance, American Finance Association, vol. 61(4), pages 1957-1990, August.
    49. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    50. van der Laan Smith, Joyce & Adhikari, Ajay & Tondkar, Rasoul H., 2005. "Exploring differences in social disclosures internationally: A stakeholder perspective," Journal of Accounting and Public Policy, Elsevier, vol. 24(2), pages 123-151.
    51. Cormier, Denis & Magnan, Michel, 2003. "Environmental reporting management: a continental European perspective," Journal of Accounting and Public Policy, Elsevier, vol. 22(1), pages 43-62.
    52. Ball, Ray & Kothari, S. P. & Robin, Ashok, 2000. "The effect of international institutional factors on properties of accounting earnings," Journal of Accounting and Economics, Elsevier, vol. 29(1), pages 1-51, February.
    53. Chen, Xia & Cheng, Qiang & Lo, Kin, 2010. "On the relationship between analyst reports and corporate disclosures: Exploring the roles of information discovery and interpretation," Journal of Accounting and Economics, Elsevier, vol. 49(3), pages 206-226, April.
    54. Khan, Raihan & Dharwadkar, Ravi & Brandes, Pamela, 2005. "Institutional ownership and CEO compensation: a longitudinal examination," Journal of Business Research, Elsevier, vol. 58(8), pages 1078-1088, August.
    55. Li, Feng & Minnis, Michael & Nagar, Venky & Rajan, Madhav, 2014. "Knowledge, compensation, and firm value: An empirical analysis of firm communication," Journal of Accounting and Economics, Elsevier, vol. 58(1), pages 96-116.
    56. Kisgen, Darren J., 2009. "Do Firms Target Credit Ratings or Leverage Levels?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 44(6), pages 1323-1344, December.
    57. Guido Ferrarini, 2005. "Executive Remuneration in the EU: The Context for Reform," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(2), pages 304-323, Summer.
    58. Manuel Cano-Rodriguez, 2010. "Big Auditors, Private Firms and Accounting Conservatism: Spanish Evidence," European Accounting Review, Taylor & Francis Journals, vol. 19(1), pages 131-159.
    59. Mitton, Todd, 2004. "Corporate governance and dividend policy in emerging markets," Emerging Markets Review, Elsevier, vol. 5(4), pages 409-426, December.
    60. Nikos Vafeas, 2005. "Audit Committees, Boards, and the Quality of Reported Earnings," Contemporary Accounting Research, John Wiley & Sons, vol. 22(4), pages 1093-1122, December.
    61. Hillegeist, Stephen A. & Peñalva, Fernando, 2004. "Stock option incentives and firm performance," IESE Research Papers D/535, IESE Business School.
    62. Lynnette D. Purda, 2007. "Stock Market Reaction To Anticipated Versus Surprise Rating Changes," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 30(2), pages 301-320, June.
    63. K.V. Peasnell & P.F. Pope & S. Young, 2005. "Board Monitoring and Earnings Management: Do Outside Directors Influence Abnormal Accruals?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(7-8), pages 1311-1346.
    64. Patten, Dennis M., 2005. "The accuracy of financial report projections of future environmental capital expenditures: a research note," Accounting, Organizations and Society, Elsevier, vol. 30(5), pages 457-468, July.
    65. Joseph Fuller & Michael C. Jensen, 2010. "Just Say No to Wall Street: Putting a Stop to the Earnings Game," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 59-63, January.
    66. Holthausen, Robert W. & Larcker, David F. & Sloan, Richard G., 1995. "Annual bonus schemes and the manipulation of earnings," Journal of Accounting and Economics, Elsevier, vol. 19(1), pages 29-74, February.
    67. Chalevas, Constantinos G., 2011. "The Effect of the Mandatory Adoption of Corporate Governance Mechanisms on Executive Compensation," The International Journal of Accounting, Elsevier, vol. 46(2), pages 138-174, June.
    68. Chaigneau, Pierre, 2018. "The optimal timing of CEO compensation," Finance Research Letters, Elsevier, vol. 24(C), pages 90-94.
    69. Larry H. P. Lang & Mara Faccio & Leslie Young, 2001. "Dividends and Expropriation," American Economic Review, American Economic Association, vol. 91(1), pages 54-78, March.
    70. Clarkson, Peter M. & Li, Yue & Richardson, Gordon D. & Vasvari, Florin P., 2008. "Revisiting the relation between environmental performance and environmental disclosure: An empirical analysis," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 303-327.
    71. McKnight, Phillip J. & Weir, Charlie, 2009. "Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(2), pages 139-158, May.
    72. Jones, Michael John, 2010. "Accounting for the environment: Towards a theoretical perspective for environmental accounting and reporting," Accounting forum, Elsevier, vol. 34(2), pages 123-138.
    73. Jay C. Hartzell & Laura T. Starks, 2003. "Institutional Investors and Executive Compensation," Journal of Finance, American Finance Association, vol. 58(6), pages 2351-2374, December.
    74. Benjamin Segal & Dan Segal, 2016. "Are managers strategic in reporting non-earnings news? Evidence on timing and news bundling," Review of Accounting Studies, Springer, vol. 21(4), pages 1203-1244, December.
    75. Ho, Simon S. M. & Lam, Kevin C. K. & Sami, Heibatollah, 2004. "The investment opportunity set, director ownership, and corporate policies: evidence from an emerging market," Journal of Corporate Finance, Elsevier, vol. 10(3), pages 383-408, June.
    76. Yu, Fang (Frank), 2008. "Analyst coverage and earnings management," Journal of Financial Economics, Elsevier, vol. 88(2), pages 245-271, May.
    77. Craig Deegan, 2004. "Environmental disclosures and share prices—a discussion about efforts to study this relationship," Accounting Forum, Taylor & Francis Journals, vol. 28(1), pages 87-97, March.
    78. Healy, Paul M., 1985. "The effect of bonus schemes on accounting decisions," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 85-107, April.
    79. Healy, Paul M. & Palepu, Krishna G., 2001. "Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 405-440, September.
    80. Kim, Hugh & Liao, Rose C. & Wang, Yan, 2015. "Active block investors and corporate governance around the world," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 39(C), pages 181-194.
    81. Abdallah, Abed Al-Nasser & Ismail, Ahmad K., 2017. "Corporate governance practices, ownership structure, and corporate performance in the GCC countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 46(C), pages 98-115.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pavlopoulos, Athanasios & Magnis, Chris & Iatridis, George Emmanuel, 2019. "Integrated reporting: An accounting disclosure tool for high quality financial reporting," Research in International Business and Finance, Elsevier, vol. 49(C), pages 13-40.
    2. Shang, Xiaodan & Luo, Chuanjian & Wen, Qian, 2020. "Do Chinese executives reward for luck?," Economic Modelling, Elsevier, vol. 92(C), pages 318-325.
    3. Aly Zaher, Noha & Mohamed, Ehab K.A. & Basuony, Mohamed A.K., 2020. "The effect of timely loss recognition and accrual quality on corporate bond spread: The influence of legal and financial institutions," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 64(C).
    4. Liew, Chee Yoong & Ko, Young Kyung & Song, Bee Lian & Murthy, Saraniah Thechina, 2019. "Directors’ remuneration, expropriation and firm performance in Malaysia: evidence from non-executive directors’ service duration within the remuneration committee," MPRA Paper 99703, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Iatridis, George Emmanuel, 2016. "Financial reporting language in financial statements: Does pessimism restrict the potential for managerial opportunism?," International Review of Financial Analysis, Elsevier, vol. 45(C), pages 1-17.
    2. Chalevas, Constantinos G., 2011. "The Effect of the Mandatory Adoption of Corporate Governance Mechanisms on Executive Compensation," The International Journal of Accounting, Elsevier, vol. 46(2), pages 138-174, June.
    3. Armstrong, Christopher S. & Guay, Wayne R. & Weber, Joseph P., 2010. "The role of information and financial reporting in corporate governance and debt contracting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 179-234, December.
    4. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    5. Iatridis, George Emmanuel, 2012. "Audit quality in common-law and code-law emerging markets: Evidence on earnings conservatism, agency costs and cost of equity," Emerging Markets Review, Elsevier, vol. 13(2), pages 101-117.
    6. Andreas Charitou & Irene Karamanou & Anastasia Kopita, 2018. "The determinants and valuation effects of classification choice on the statement of cash flows," Accounting and Business Research, Taylor & Francis Journals, vol. 48(6), pages 613-650, September.
    7. Dechow, Patricia & Ge, Weili & Schrand, Catherine, 2010. "Understanding earnings quality: A review of the proxies, their determinants and their consequences," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 344-401, December.
    8. Alves, Sandra, 2012. "Executive stock options and earnings management in the portuguese listed companies," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 15(2), pages 211-235.
    9. Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December.
    10. Iatridis, George, 2010. "International Financial Reporting Standards and the quality of financial statement information," International Review of Financial Analysis, Elsevier, vol. 19(3), pages 193-204, June.
    11. Nooraisah Katmon & Omar Al Farooque, 2017. "Exploring the Impact of Internal Corporate Governance on the Relation Between Disclosure Quality and Earnings Management in the UK Listed Companies," Journal of Business Ethics, Springer, vol. 142(2), pages 345-367, May.
    12. Neeraj K. Sehrawat & Amit Kumar & Nandita Lohia & Satvik Bansal & Tanya Agarwal, 2019. "Impact of Corporate Governance on Earnings Management: Large Sample Evidence from India," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(12), pages 1335-1345, December.
    13. Chia-Ling Chao & Shwu-Min Horng, 2013. "Asset write-offs discretion and accruals management in Taiwan: the role of corporate governance," Review of Quantitative Finance and Accounting, Springer, vol. 40(1), pages 41-74, January.
    14. Elnahass, Marwa & Salama, Aly & Yusuf, Noora, 2022. "Earnings management and internal governance mechanisms: The role of religiosity," Research in International Business and Finance, Elsevier, vol. 59(C).
    15. Pavlopoulos, Athanasios & Magnis, Chris & Iatridis, George Emmanuel, 2017. "Integrated reporting: Is it the last piece of the accounting disclosure puzzle?," Journal of Multinational Financial Management, Elsevier, vol. 41(C), pages 23-46.
    16. Sheng-Syan Chen & Robin K. Chou & Yun-Chi Lee, 2020. "The effects of executive compensation and outside monitoring on firms’ pre-repurchase disclosure behavior and post-repurchase performance," Review of Quantitative Finance and Accounting, Springer, vol. 54(1), pages 111-158, January.
    17. Cédric van Appelghem & Pascal Nguyen, 2020. "Do CEO-Board ties affect the firm's cost of equity? [La proximité entre le dirigeant et les administrateurs a-t-elle un impact sur le coût des fonds propres ?]," Working Papers hal-02880367, HAL.
    18. Martin Walker, 2013. "How far can we trust earnings numbers? What research tells us about earnings management," Accounting and Business Research, Taylor & Francis Journals, vol. 43(4), pages 445-481, August.
    19. Naeem Tabassum & Satwinder Singh, 2020. "Corporate Governance and Organisational Performance," Springer Books, Springer, number 978-3-030-48527-6, June.
    20. Marra, Antonio & Mazzola, Pietro & Prencipe, Annalisa, 2011. "Board Monitoring and Earnings Management Pre- and Post-IFRS," The International Journal of Accounting, Elsevier, vol. 46(2), pages 205-230, June.

    More about this item

    Keywords

    Executive cash compensation; Corporate governance; Income smoothing; Discretionary accruals; Credit ratings; Firm value;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:intfin:v:55:y:2018:i:c:p:29-49. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/intfin .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.