Unexpected Earnings, Abnormal Accruals, and Changes in CEO Bonuses

• Main Authors: CHEN, Chih-Ying, Liang, Jia-Wen, Lin, Stephen W. J.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2007
• 主題: Executive compensation; Earning surprises; Abmornal accruals; Pay-for-performance sensitivity; Accounting; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/283

Prior research has found that the market premium for positive unexpected earnings is greater than the penalty for negative unexpected earnings and that the earnings response coefficients for positive (negatie) unexpected earnings are lower (higher) if abnormal accruals are income-increasing. In this...