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作者：Bornemann, Tobias; Jacob, Martin; Sailer, Mariana
作者单位：Vienna University of Economics & Business; WHU - Otto Beisheim School of Management
摘要：The limitation of executive compensation has been a matter of public and policy debate for at least 20 years. We examine a regulatory action in Austria in 2014 where the tax deductibility of the total value of executive compensation is unavoidably limited. We find no average effects on the growth or composition of executives' pay. However, the deductibility limit affects the managers of firms with low bargaining power and of firms with strong corporate governance, indicating that they are affe...
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作者：Carniol, Michael P.; Fischer, Paul E.
作者单位：Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick; University of Pennsylvania
摘要：Private organizations that produce public goods often receive offers for funding from large donors who seek to influence the nature of the public goods produced. We consider a model in which the potential for large donor influence creates a commitment problem for the organization in the sense that, from an ex ante perspective, the organization sets the price for influence too low given the opportunity cost. Our analysis identifies determinants of the likelihood of large donor influence and ass...
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作者：Even-Tov, Omri; Su, Andy (Jiarui); Wang, K. Philip
作者单位：University of California System; University of California Berkeley; Stanford University; State University System of Florida; University of Florida
摘要：We examine the impact of reducing information processing costs on U.S. state regulators who supervise mortgage companies. State regulators traditionally disclosed enforcement actions only on their individual websites. A centralized repository, introduced in 2012, assembled enforcement records across states in one place, reducing a regulator's cost to learn about enforcements in other states. Using a difference-in-differences design, find that enforcement records posted on the centralized repos...
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作者：Kim, Sunyoung; Mate, Michal; Park, Jongwon
作者单位：Monash University; Arizona State University; Arizona State University-Tempe; Hong Kong Polytechnic University
摘要：Using data on earnings targets in annual bonus plans, we construct and validate an empirical measure of beginning-of-year target difficulty and show that it is negatively associated with market uncertainty, retention concerns, and Chief Executive Officer (CEO) entrenchment. We then present several findings about the effect of target difficulty on performance and CEO compensation. First, greater target difficulty in annual bonus plans is associated with significantly lower CEO cash compensation...
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作者：Ton, Karen
作者单位：Villanova University
摘要：Auditor knowledge is a key element in explaining the supply of audit quality, yet understanding of the drivers of this knowledge in the archival literature is limited. This study uses an archival approach to examine whether the sharing of auditors among firms in banking relationships results in information transfers that improve audit quality. I find that audit quality improves for both borrowers and lenders who share the same auditor office. Specifically, lenders who share an auditor office w...
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作者：Aobdia, Daniel; Petacchi, Reining C.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Georgetown University
摘要：We examine the effect of large audit firms' internal inspection programs, an important monitoring mechanism, on auditor effort and financial reporting quality. Internal inspections are often predictable, and engagement teams concentrate their effort on audits ultimately selected for inspections. The extra effort increases the likelihood of a favorable inspection rating. We find some evidence of improvement in financial reporting quality in the inspection year, suggesting that internal inspecti...
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作者：Beasley, Mark S.; Branson, Bruce C.; Braumann, Evelyn C.; Pagach, Donald P.
作者单位：North Carolina State University; Vrije Universiteit Amsterdam
摘要：Approaches to risk governance are not homogeneous across organizations. Some organizations invest heavily in building formal and strategically focused enterprise-wide risk governance processes whereas others exhibit reduced formality and focus, allowing risk governance to be less structured. We argue that risk governance may best be described as a service dependent upon a network (or ecosystem) of participants who include users of risk information and providers who design and implement risk go...
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作者：Arnold, Markus C.; Shi, Bei; Tafkov, Ivo D.; Voermans, Elien
作者单位：University of Bern; University of Amsterdam; University System of Georgia; Georgia State University; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Employees' skill development is key to organizations' competitiveness in a global, knowledge-based economy. Prior research in accounting, however, has mainly focused on motivating the provision of transitory effort. This study investigates how relative performance information (RPI) as a management control influences employees' willingness to engage in skill development and whether the effect of RPI depends on whether employees face a tradeoff between training and current work performance. We p...
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作者：Feichter, Christoph
作者单位：Vienna University of Economics & Business
摘要：In three experiments, I investigate how supervisors' task performance in lower-level jobs prior to being promoted to the supervisory level influences the targets they set for employees. I propose that supervisors show an experience bias by which they overemphasize their own experiences when setting targets for employees. As such, supervisors who achieved high performance before being promoted set higher targets than low-performing supervisors, despite having the same information about the empl...
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作者：Gao, Pingyang; Bleck, Alexander
作者单位：University of Hong Kong; University of Chicago
摘要：We study the effects of mark-to-market accounting (MTM) for banks following the originate-to-distribute lending model. Banks have expertise in originating loans, but it is costly for them to retain the loans on their books. We study how the accounting measurement of the retained loans affects the banks' origination and retention decisions. We show that, relative to historic cost accounting (HC), MTM has three consequences. First, it improves the accuracy of loan measurement ex post. Second, it...
