haku: @indexterm DYNAMIC MODELS / yhteensä: 269
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| Tekijä: | Boschen, J. F. |
| Otsikko: | Accounting and Stock Price Performance in Dynamic CEO Compensation Arrangements |
| Lehti: | Accounting Review
2003 : JAN, VOL. 78:1, p. 143-168 |
| Asiasana: | EXECUTIVES COMPENSATION SHARE PRICES ACCOUNTING DYNAMIC MODELS |
| Kieli: | eng |
| Tiivistelmä: | In this study the authors examine the long-run effects of unexpected firm performance on CEO compensation. The authors find that unexpectedly good accounting performance is initially associated with increases in CEO pay. However, this initial effect soon reverses, and is followed by lower CEO pay in later years. Overall, the CEO's long-run cumulative financial gain from unexpectedly good accounting performance is not significantly different from zero. In contrast, unexpectedly good stock price performance is associated with increases in CEO pay for several years. Thus, the CEO's long-run cumulative financial gain from unexpectedly good stock price performance is positive and significant. |
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