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Accounting earnings and chief execut...

Cao, Ying.

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Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles./
Author:	Cao, Ying.
Description:	110 p.
Notes:	Adviser: Thomas C. Omer.
Contained By:	Dissertation Abstracts International68-09A.
Subject:	Business Administration, Accounting. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3281034
ISBN:	9780549228240

Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles.
Cao, Ying.

Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles. - 110 p.

Adviser: Thomas C. Omer.

Thesis (Ph.D.)--Texas A&M University, 2007.

This paper investigates the impact of accounting earnings on Chief Executive Officer (CEO) compensation by examining how the valuation role and the contracting role of accounting earnings jointly determine the value of CEO total compensation. Current earnings are informative about the firms' future cash flows and hence affect stock price, and the resulting price movement affects the value of CEO equity-based compensation. Thus, accounting earnings not only have a direct impact on CEO cash compensation, but also an indirect impact on CEO equity-based compensation due to earnings' valuation role. To my knowledge, this paper is the first to provide empirical evidence that because of earnings' valuation role, accounting earnings are an economically significant determinant of CEO total compensation.

ISBN: 9780549228240Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles.
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008 110831s2007 ||||||||||||||||| ||eng d
020 $a 9780549228240
035 $a (UMI)AAI3281034
035 $a AAI3281034
040 $a UMI $c UMI
100 1 $a Cao, Ying. $3 1287013
245 1 0 $a Accounting earnings and chief executive officer compensation: The joint effect of earnings' contracting and valuation roles.
300 $a 110 p.
500 $a Adviser: Thomas C. Omer.
500 $a Source: Dissertation Abstracts International, Volume: 68-09, Section: A, page: 3932.
502 $a Thesis (Ph.D.)--Texas A&M University, 2007.
520 $a This paper investigates the impact of accounting earnings on Chief Executive Officer (CEO) compensation by examining how the valuation role and the contracting role of accounting earnings jointly determine the value of CEO total compensation. Current earnings are informative about the firms' future cash flows and hence affect stock price, and the resulting price movement affects the value of CEO equity-based compensation. Thus, accounting earnings not only have a direct impact on CEO cash compensation, but also an indirect impact on CEO equity-based compensation due to earnings' valuation role. To my knowledge, this paper is the first to provide empirical evidence that because of earnings' valuation role, accounting earnings are an economically significant determinant of CEO total compensation.
520 $a Prior accounting research testing predictions of agent theory has focused on CEO cash compensation even though total compensation is a more relevant measure. Thus, the significant result of earnings in CEO total compensation enables re-examination of agency predictions. I provide evidence that earnings (but not stock returns) are used in CEO total compensation consistent with the "sensitivity vs. precision" hypothesis. That is, accounting earnings receive less weight when earnings are relatively more volatile and when firms have significant growth opportunities.
590 $a School code: 0803.
650 4 $a Business Administration, Accounting. $3 1020666
650 4 $a Economics, Finance. $3 626650
690 $a 0272
690 $a 0508
710 2 $a Texas A&M University. $3 718977
773 0 $t Dissertation Abstracts International $g 68-09A.
790 $a 0803
790 1 0 $a Omer, Thomas C., $e advisor
791 $a Ph.D.
792 $a 2007
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3281034