CEO compensation and stakeholders' claims

Contemporary Accounting Research

Volumn 22, Issue 3, 2005, Pages 519-547

  Arora, Alka ^a   Alam, Pervaiz ^b  

^a UNIVERSITY OF WISCONSIN WHITEWATER   (United States)

^b KENT STATE UNIVERSITY   (United States)

Author keywords

CEO compensation; Corporate constituents; Long term incentive plans; Stakeholders

Indexed keywords

EID: 25444486458     PISSN: 08239150     EISSN: None     Source Type: Journal    
DOI: 10.1506/8DLT-1RHN-WGBB-CHTM     Document Type: Review

References (57)

1. Andrews, K. R. 1971. The concept of corporate strategy. Homewood, IL: Dow Jones-Irwin.
2. Ansoff, H. L. 1984. Implanting strategic management. Englewood Cliffs, NJ: Prentice Hall.
3. Bhagat, S., and J. A. Brickley. 1984. Cumulative voting: The value of minority shareholder voting rights. Journal of Law and Economics 27 (2): 339-65.
4. Bowen, R. M., L. DuCharme, and D. Shores. 1995. Shareholders' implicit claims and accounting method choice. Journal of Accounting and Economics 20: 255-95.
5. Bowerman, B. L., and R. L. O'Connell. 1990. Linear statistical models: An applied approach. Boston: PWS-Kent Publishing.
6. Brickley, J. A., S. Bhagat, and R. C. Lease. 1985. The Impact of long-range managerial compensation plans on shareholder wealth. Journal of Accounting and Economics 7 (1/2/3): 115-30.
7. Brozobsky, J. A., and P. R. Sopariwala. 1995. The determinants of performance plan adoptions. Journal of Accounting, Auditing, and Finance 10 (3): 655-76.
8. Bull, C. 1987. The existence of self-enforcing implicit contracts. Quarterly Journal of Economics 102 (1): 147-59.
9. Bushman, R., E. Ellen, M. Jennifer, and A. Smith. 1998. An empirical investigation of trends in the absolute and relative use of earnings in determining CEO compensation. Working paper, Yale School of Management.
10. Clarkson, M. A. 1995. Stakeholder framework for analyzing and evaluating corporations. Academy of Management Review 20 (1): 92-117.
11. Cornell, B., and A. Shapiro. 1987. Corporate stakeholders and corporate finance. Financial Management 16 (1): 5-14.
12. DeAngelo, H., and E. M. Rice. 1983. Anti-takeover charter amendments and shareholder wealth. Journal of Financial Economics 11 (1-4): 329-59.
13. Donaldson, T., and L. E. Preston. 1995. The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review 20 (1): 65-91.
14. Dunfee, T. W. 1991. Business ethics and extant social contracts. Business Ethics Quarterly 1 (1): 23-51.
15. Eisenhardt, K. M. 1989. Agency theory: An assessment and review. Academy of Management Review 14 (1): 57-74.
16. Enis, C. R. 1993. Earnings-based compensation plans, performance, and capital expenditure policy in the motor carrier industry. The Accounting Review 68 (4): 928-41.
17. F. W. Cook & Co. 1981. Future value incentive plans. New York: Frederic W. Cook & Co.
18. Fox, H. 1980. Top executive compensation. New York: Conference Board.
19. Freeman, R. E. 1984. Strategic management: A stakeholder approach. Boston: Pittman.
20. Friedman, M. 1962. Capitalism and freedom. Chicago: University of Chicago Press.
21. Gaver, J. F., K. M. Gaver, and G. P. Battistel. 1992. The stock market reaction to performance plan adoption. The Accounting Review 67 (1): 172-82.
22. Gaver, J. J., and K. M. Gaver. 1993. Additional evidence on the association between the investment opportunity set and corporate financing, dividend and compensation policies. Journal of Accounting and Economics (1-3): 125-60.
23. Hagerman R., and M. Zmijewski. 1979. Some economic determinants of accounting policy choice. Journal of Accounting and Economics 31 (3): 141-61.
24. Hambrick, D. C. 1989. Guest editor's introduction: Putting top managers back in the strategy picture. Strategic Management Journal 10 (1): 5-15.
25. Healy, P. 1985. The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics 7 (1/2/3): 85-107.
26. Herman, E. S. 1981. Corporate controls, corporate power. Cambridge, UK: Cambridge University Press.
27. Hill, C. W. L., and T. M. Jones. 1992. Stakeholder agency theory. Journal of Management Studies 29 (2): 131-54.
28. Holthausen, R. W., D. F. Larcker, and R. G. Sloan. 1995. Annual bonus schemes and manipulation of earnings. Journal of Accounting and Economics 19 (1): 29-74.
29. Internal Revenue Code. 1986. As amended.
30. Jensen, M. C., and W. H. Meckling. 1976. Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics 3 (4): 305-60.
31. Jones, J. 1991. Earnings management during import relief investigations. The Journal of Accounting Research 29 (2): 193-228.
32. Jones, T. M. 1995. Instrumental stakeholder theory: A synthesis of ethics and economics. Academy of Management Review 20 (2): 404-37.
33. Kumar, R., and P. R. Sopariwala. 1992. The effect of long-term performance plans on stock prices and accounting numbers. Journal of Financial and Quantitative Analysis 27 (4): 561-73.
34. Larcker, D. 1983. The association between performance plan adoption and corporate investment. Journal of Accounting and Economics 5 (1): 3-30.
35. Lenz, R. T., and M. A. Lyles. 1986. Managing human problems in strategic planning systems. Journal of Business Strategy 6 (4): 57-66.
36. Lerner, L., and G. Fryxell. 1994. CEO stakeholder attitudes and corporate social activity in the Fortune 500. Business and Society 33 (1): 58-81.
37. Lewellen, W. G., G. Loderer, and K. Martin. 1987. Executive compensation and executive incentive problems: An empirical analysis. Journal of Accounting and Economics 9 (3): 287-310.
38. MacNeil, I. 1978. Contracts: Adjustment of long-term economic relations under classical, neo-classical, and relational contract law. Northwestern University Law Review 72: 854-905.
39. Maksimovic, V., and S. Titman. 1991. Financial policy and reputation for product quality. Review of Financial Studies 4 (1): 175-200.
40. Maunders, K., and B. Foley. 1974. Accounting information, employees, and collective bargaining. Journal of Business, Finance, and Accounting 1 (1): 109-27.
41. Murphy, M. 1986. Incentives, learning, and compensation: A theoretical and empirical investigation of managerial labor contracts. Rand Journal of Economics 17 (1): 59-76.
42. Pavlik, E. L., T. W. Scott, and P. Tiessen. 1993. Executive compensation: Issues and research. Journal of Accounting Literature 12: 131-89.
43. Peat, Marwick, Main & Co. 1982. Executive compensation practices in 500 industrial companies. New York: Peat, Marwick, Main & Co.
44. Pindyck, R. S., and D. L. Rubinfeld. 1991. Econometric models & economic forecasts. New York: McGraw-Hill.
45. Preston, L. E. 1990. Stakeholder management and corporate performance. Journal of Behavioral Economics 19 (4): 361-75.
46. Preston, L. E. and H. J. Sapienza. 1990. Stakeholder management and corporate performance. The Journal of Behavioral Economics 19 (4): 361-75.
47. Ross, S. A. 1973. The economic theory of agency: The principal's problem. American Economic Review 63 (2): 134-9.
48. Scott, T. 1991. Pension disclosures under SFAS 87: Theory and evidence. Contemporary Accounting Research 8 (1): 62-81.
49. Sloan, R. G. 1993. Accounting earnings and top executive compensation. Journal of Accounting and Economics 16 (1-3): 55-199.
50. Sougiannis, T. 1994. The accounting based valuation of corporate R & D. The Accounting Review 69 (1): 44-68.
51. Tehranian, H., N. Travlos, and J. F. Waegelein. 1987a. Management compensation contracts and merger-induced abnormal returns. Journal of Accounting Research 25 (Supplement): 51-76.
52. Tehranian, H., N. Travlos, and J. F. Waegelein. 1987b. The effect of long-term performance plans on corporate sell-off induced abnormal returns. Journal of Finance 42 (4): 933-42.
53. Teohm S. H., and J. J. Wong. 1993. Perceived auditor quality and the earnings response coefficient. The Accounting Review 68 (2): 346-67.
54. Tesler, L. 1980. Theory of self-enforcing agreements. Journal of Business 53 (1): 27-44.
55. Titman, S., and R. Wessels. 1988. The determinants of capital structure choice. Journal of Finance 43 (1): 1-19.
56. Williamson, O. E. 1984. Corporate governance. Yale Law Journal 93 (7): 1197-230.
57. Williamson, O. E. 1985. The economic institutions of capitalism. New York: Free Press.