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| Author: | Nagar, V. Nanda, D. Wysocki, P. |
| Title: | Discretionary disclosure and stock-based incentives |
| Journal: | Journal of Accounting & Economics
2003 : JAN, VOL. 34:1-3, p. 283-309 |
| Index terms: | Disclosure Incentives Share ownership Compensation |
| Language: | eng |
| Abstract: | The authors argue that stock price-based incentives in the form of stock-based compensation and share ownership mitigate this disclosure agency problem. Consistent with this prediction, they find that firms' disclosures, measured both by management earnings forecast frequency and analysts' subjective ratings of disclosure practice, are positively related to the proportion of CEO compensation affected by stock price and the value of shares held by the CEO. |
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