Keywords
Affiliated Institutions
Related Publications
Managers, Owners, and The Pricing of Risky Debt: An Empirical Analysis
ABSTRACT This article examines managerial ownership structure and return premia on corporate bonds. It is argued that when managerial ownership is low, an increase in managerial...
Does the Use of Financial Derivatives Affect Earnings Management Decisions?
I present evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994–1996 data for a sample of Fort...
Higher market valuation of companies with a small board of directors
I present evidence consistent with theories that small boards of directors are more effective. Using Tobin's Q as an approximation of market valuation, I find an inverse associa...
The effects of bonus schemes on accounting decisions
Studies examining managerial accounting decisions postulate that executives rewarded by earnings-based bonuses select accounting procedures that increase their compensation. The...
The Determination of Financial Structure: The Incentive-Signalling Approach
The Modigliani-Miller theorem on the irrelevancy of financial structure implicitly assumes that the market possesses full information about the activities of firms. If managers ...
Publication Info
- Year
- 1982
- Type
- article
- Pages
- 107-140
- Citations
- 1110
- Access
- Closed