The role of convex equity incentives in managers’ forecasting decisions

• Main Authors: CHO, Young Jun, TSUI, David, YANG, Holly I.
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2021
• 主題: voluntary disclosure; earnings guidance; managerial incentives; disclosure risks; Accounting; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/1938; https://ink.library.smu.edu.sg/context/soa_research/article/2965/viewcontent/CTY_03_29_21.pdf
• 機構: Singapore Management University

Prior literature suggests that voluntary disclosures of forward-looking information tend to lead to capital market benefits, but these disclosures may also result in negative capital market consequences if subsequent performance falls below expectations. We, therefore, hypothesize that convex equity...