Are Executive Stock Options Associated with Future Earnings
By Michelle Hanlon, Shivaram Rajgopal, Terry Shevlin. 2003
477 citations recorded by the source corpus.
Subfields: Accounting, Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/1a248a514623e4e6c52f1146972721db2c2b201c
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In Accounting
- George Serafeim
- Yongtae Kim
- Ioannis Ioannou
- Qiang Cheng
- Matthew Serfling
- J. Judd
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In Finance
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- Dan S. Dhaliwal
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In Strategy and Management
- George Serafeim
- Yongtae Kim
- Ioannis Ioannou
- Matthew Serfling
- J. Judd
- Sarah Shaikh
- Dan S. Dhaliwal
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Citations in the corpus
- The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs (2012, background): “Some studies find that more variable pay leads to greater alignment of incentives and triggers lower incentives to empire build, but other studies find that variable pay may be a way managers extract rent from the company (see Hanlon et al. 2003 for a discussion of the debate).”
- Equity Incentives and Earnings Management (2005, unknown): “1988; Hanlon et al. 2003, among others). However, at the same time, these elements can lead managers to focus on short-term stock prices, thereby leading to incentives for earnings management. The incentives for earnings management arise from managers’ diversifying the increased risk associated with”
- CEO Equity Incentives and Audit Fees (2015, methodology): “Following Lev and Sougiannis 1996 and Hanlon, Rajgopal, and Shevlin 2003, we use the average CEO equity portfolio vega and delta of other firms in the same four-digit SIC industry as our instrumental variable.”
- 6 Pay and Performance: Individuals, Groups, and Executives (2009, background): “A recent study by Hanlon, Rajgopal, and Shevlin ( 2003 ) shows some of the challenges in studying the PFP → performance question.”
- Earnings Restatements, Changes in CEO Compensation, and Firm Performance (2008, methodology): “Prior research finds a positive relation between equity incentives and a firm’s idiosyncratic risk (Idiosyncratic Risk) (e.g., Core and Guay 1999; Hanlon et al. 2003).”