作者：O'Hanlon, J; Peasnell, K
作者单位：Lancaster University
摘要：This paper explores the question of whether the residual income valuation relationship (RIVR) should be written in inflation-adjusted terms. This question is of particular interest in the light of Ritter and Warr's (2002) claim that the standard nominal historical cost formulation of RIVR misvalues firms because it fails to deal properly with inflation. We present two inflation-adjusted formulations of RIVR, each of which is based on an income measure from the inflation accounting literature, ...
作者：Davila, A; Venkatachalam, M
作者单位：Duke University; Stanford University
摘要：This paper investigates the role of non-financial performance measures in executive compensation. Using a sample of airline firms we document that passenger load factor, an important non-financial measure for firms in this industry, is positively associated with CEO cash compensation. This association is significant after controlling for traditional accounting performance measures (return on assets) and financial performance measures (stock returns). This evidence is consistent with the hypoth...
