The Endogeneity of Managerial Compensation in Firm Valuation: A Solution

By Darius N Palia. 2001

472 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/aa76e53edfdc94fd03d9e9b2b951072201c441de

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Citations in the corpus

Insider Ownership and Firm Value: Evidence from Real Estate Investment Trusts (2006, unknown): “Springer Palia (2001) for non-REIT stocks.”
Performance-vesting provisions in executive compensation (2018, background): “See Demsetz and Lehn (1985), Kole (1997), Himmelberg, Hubbard, and Palia (1999), Demsetz and Villalonga (2001), Palia (2001), and Claessens, Djankov, Fan, and Lang (2002), Coles, Lemmon, and Meschke (2012), and Coles Lemmon and Wang (2011), among others.”
Performance consequences of mandatory increases in executive stock ownership (2002, unknown): “Palia (1998) and Core and Guay (1999) find evidence that CEO ownership increases with the CEO's tenure.”
Structural Models and Endogeneity in Corporate Finance: The Link Between Managerial Ownership and Corporate Performance (2003, background): “…with larger departures of ownership from that which supports maximal Q. Based on this line of 1 See Demsetz and Lehn (1985), Kole (1995), Cho (1998), Himmelberg, Hubbard, and Palia (1999), Demsetz and Villalonga (2001), Palia (2001), and Claessens, Djankov, Fan, and Lang (2002), among others.”
Postprivatization Corporate Governance: The Role of Ownership Structure and Investor Protection (2005, unknown): “recent studies (e.g., Himmelberg et al., 1999; Palia, 2001) document the endogeneity nature of the ownership structure (predominantly managerial ownership) and stress the”
Corporate Governance and Firm Performance in Pakistan: The Case of Karachi Stock Exchange (KSE)-30 (2015, background): “Unlike Hermalin and Weisbach (1991), Cho (1998), Himmelberg et al. (1999), Palia (2001) Attiya and Rabia (2009) and Demsetz and Villalonga (2001) that use managerial compensation as the only corporate governance mechanism; Kim et al. (2004) that examine leverage only; Bhagat and Black (2002) and…”
Family Ownership and Control, the Presence of Other Large Shareholders, and Firm Performance: Further Evidence (2011, background): “Accordingly, studies that consider a firm’s ownership as endogenous (Cho, 1998; Demsetz & Villalonga, 2001; Himmelberg, Hubbard, & Palia, 1999; Loderer & Martin, 1997; Palia, 2001; Pedersen & Thomsen, 1999) do not find any significant relationship between ownership and performance.”
The Relationship between Corporate Governance and Value of the Firm in Developing Countries: Evidence from Bangladesh (2011, methodology): “Himmelberg, et al.(1999), Palia (2001) and Demsetz and Villalonga (2001) that use managerial compensation as the only corporate governance mechanism; Kim, et al.,(2004) that examine leverage only; Bhagat and Black (2002) and Coles, et al.,(2008) that examine board characteristics only, this study…”
Does Corporate Governance Influence Earnings Management in Latin American Markets? (2014, background): “, the individual characteristics of each entity that are not observable but affect the variables under study (Arellano and Bover 1991; Arellano 1993; Himmelberg et al. 1999; Palia 2001; Brick et al. 2005).”
Corporate governance and earnings management at large U.S. bank holding companies (2009, methodology): “Following Palia (2001) and Brick et al. (2006) we use CEO age and CEO tenure as instruments for the pay-for-performance sensitivity of the CEO.”