作者：Cassell, Cory A.; Myers, Linda A.; Schmardebeck, Roy; Zhou, Jian
作者单位：University of Arkansas System; University of Arkansas Fayetteville; University of Tennessee System; University of Tennessee Knoxville; University of Hawaii System
摘要：We investigate the relation between audit committee co-option and financial reporting quality, where audit committee co-option is measured as the proportion of audit committee members who joined the board after the appointment of the current Chief Executive Officer (CEO). Because CEOs are often actively involved in the director nomination and selection process, we expect that higher levels of audit committee co-option will be associated with less effective monitoring, as evidenced by more fina...
作者：Casas-Arce, Pablo; Holzhacker, Martin; Mahlendorf, Matthias D.; Matejka, Michal
作者单位：Arizona State University; Arizona State University-Tempe; Michigan State University; Frankfurt School Finance & Management
摘要：When targets depend on past performance, incentives are adversely affected by the ratchet effect. We provide theory and evidence that incorporating past peer performance into targets can alleviate this adverse incentive effect. In particular, we present an analytical model that characterizes optimal target revisions as a function of past own and past peer performance. We then test the predictions of our model using data on 2008-2010 performance targets from 354 units of a governmental agency r...
