메뉴 건너뛰기




Volumn 44, Issue 1, 2006, Pages 53-83

An analysis of the relation between the stewardship and valuation roles of earnings

Author keywords

[No Author keywords available]

Indexed keywords


EID: 33645137964     PISSN: 00218456     EISSN: 1475679X     Source Type: Journal    
DOI: 10.1111/j.1475-679X.2006.00192.x     Document Type: Article
Times cited : (85)

References (50)
  • 1
    • 38149146310 scopus 로고
    • Accounting earnings and future economic rents: An empirical analysis
    • AHMED, A. "Accounting Earnings and Future Economic Rents: An Empirical Analysis." Journal of Accounting and Economics 17 (1994): 377-400.
    • (1994) Journal of Accounting and Economics , vol.17 , pp. 377-400
    • Ahmed, A.1
  • 2
    • 0030167039 scopus 로고    scopus 로고
    • Investment opportunities and the structure of executive compensation
    • BABER, W.; S. KANG; AND K. KUMAR. "Investment Opportunities and the Structure of Executive Compensation." Journal of Accounting and Economics 21 (1996): 297-318.
    • (1996) Journal of Accounting and Economics , vol.21 , pp. 297-318
    • Baber, W.1    Kang, S.2    Kumar, K.3
  • 3
    • 0032571947 scopus 로고    scopus 로고
    • Accounting earnings and executive compensation: The role of earnings persistence
    • BABER, W.; S. KANG; AND K. KUMAR. "Accounting Earnings and Executive Compensation: The Role of Earnings Persistence." Journal of Accounting and Economics 25 (1998): 169-93.
    • (1998) Journal of Accounting and Economics , vol.25 , pp. 169-193
    • Baber, W.1    Kang, S.2    Kumar, K.3
  • 4
    • 84933494162 scopus 로고
    • Incentive contracts and performance measurement
    • BAKER, G. "Incentive Contracts and Performance Measurement." Journal of Political Economy 100 (1992): 598-614.
    • (1992) Journal of Political Economy , vol.100 , pp. 598-614
    • Baker, G.1
  • 5
    • 0005738267 scopus 로고    scopus 로고
    • Infrastructure requirements for an economically efficient system of public financial reporting and disclosure
    • Brookings-Wharton Papers on Financial services
    • th Annual Conference, 2001.
    • (2001) th Annual Conference
    • Ball, R.1
  • 6
    • 0002241294 scopus 로고
    • Sensitivity, precision and linear aggregation of signals for performance evaluation
    • BANKER, R., AND S. DATAR. "Sensitivity, Precision and Linear Aggregation of Signals for Performance Evaluation." Journal of Accounting Research 27 (1989): 21-39.
    • (1989) Journal of Accounting Research , vol.27 , pp. 21-39
    • Banker, R.1    Datar, S.2
  • 9
    • 0031593253 scopus 로고    scopus 로고
    • Does EVA® beat earnings? Evidence on associations with stock returns and firm values
    • BIDDLE, G. C.; R. M. BOWEN; AND J. S. WALLACE. "Does EVA® Beat Earnings? Evidence on Associations with Stock Returns and Firm Values." Journal of Accounting and Economics 24 (1997): 301-36.
    • (1997) Journal of Accounting and Economics , vol.24 , pp. 301-336
    • Biddle, G.C.1    Bowen, R.M.2    Wallace, J.S.3
  • 10
    • 0040212860 scopus 로고    scopus 로고
    • CEO stock-based compensation: An empirical analysis of incentive-intensity, relative mix, and economic determinants
    • BRYAN, S.; L. HWANG; AND S. LILIEN. "CEO Stock-Based Compensation: An Empirical Analysis of Incentive-Intensity, Relative Mix, and Economic Determinants." Journal of Business 73 (2000): 661-93.
    • (2000) Journal of Business , vol.73 , pp. 661-693
    • Bryan, S.1    Hwang, L.2    Lilien, S.3
  • 11
  • 12
    • 0003377408 scopus 로고    scopus 로고
    • Private predecision information, performance measure congruity and the value of delegation
    • BUSHMAN, R.; R. INDJEJIKIAN; AND M. PENNO. "Private Predecision Information, Performance Measure Congruity and the Value of Delegation." Contemporary Accounting Research 17 (2000): 561-87.
    • (2000) Contemporary Accounting Research , vol.17 , pp. 561-587
    • Bushman, R.1    Indjejikian, R.2    Penno, M.3
  • 15
    • 0010690266 scopus 로고
    • An analysis of intertemporal and cross-sectional determinants of earnings response coefficients
    • COLLINS, D., AND S. P. KOTHARI. "An Analysis of Intertemporal and Cross-Sectional Determinants of Earnings Response Coefficients." Journal of Accounting and Economics 11 (1989): 143-81.
    • (1989) Journal of Accounting and Economics , vol.11 , pp. 143-181
    • Collins, D.1    Kothari, S.P.2
  • 16
    • 0001245231 scopus 로고    scopus 로고
    • The use of equity grants to manage optimal equity incentive levels
    • CORE, J., AND W. GUAY. "The Use of Equity Grants to Manage Optimal Equity Incentive Levels." Journal of Accounting and Economics 28 (1999): 151-84.
    • (1999) Journal of Accounting and Economics , vol.28 , pp. 151-184
    • Core, J.1    Guay, W.2
  • 17
    • 16244375693 scopus 로고    scopus 로고
    • The other side of the trade-off: The impact of risk on executive compensation: A revised comment
    • Wharton School, University of Pennsylvania
    • CORE, J., AND W. GUAY. "The Other Side of the Trade-Off: The Impact of Risk on Executive Compensation: A Revised Comment." Working paper, Wharton School, University of Pennsylvania, 2002.
    • (2002) Working Paper
    • Core, J.1    Guay, W.2
  • 18
    • 0242511198 scopus 로고    scopus 로고
    • Are performance measures other than price important to CEO incentives?
    • CORE, J.; W. GUAY; AND R. VERRECCHIA. "Are Performance Measures Other than Price Important to CEO Incentives?" The Accounting Review 78 (2003): 957-81.
    • (2003) The Accounting Review , vol.78 , pp. 957-981
    • Core, J.1    Guay, W.2    Verrecchia, R.3
  • 20
    • 0033098653 scopus 로고    scopus 로고
    • Summarization with errors, a perspective on empirical investigations of agency relationships
    • DEMSKI, J., AND D. SAPPINGTON. "Summarization with Errors, A Perspective on Empirical Investigations of Agency Relationships. Management Accounting Research 10 (1999): 21-37.
    • (1999) Management Accounting Research , vol.10 , pp. 21-37
    • Demski, J.1    Sappington, D.2
  • 21
    • 45149145986 scopus 로고
    • Cross-sectional variation in stock market response to accounting earnings announcements
    • EASTON, P., AND M. ZMIJEWSKI. Cross-Sectional Variation in Stock Market Response to Accounting Earnings Announcements." Journal of Accounting and Economics 11 (1989): 117-41.
    • (1989) Journal of Accounting and Economics , vol.11 , pp. 117-141
    • Easton, P.1    Zmijewski, M.2
  • 22
    • 0001896125 scopus 로고
    • Interindustry differences in the relation between compensation and firm performance variables
    • ELY, K. "Interindustry Differences in the Relation Between Compensation and Firm Performance Variables." Journal of Accounting Research 29 (1991): 37-58.
    • (1991) Journal of Accounting Research , vol.29 , pp. 37-58
    • Ely, K.1
  • 23
    • 0011648033 scopus 로고
    • Performance measure congruity and diversity in multi-task principal/agent relations
    • FELTHAM, G., AND J. XIE. "Performance Measure Congruity and Diversity in Multi-Task Principal/Agent Relations." The Accounting Review 69 (1994): 429-53.
    • (1994) The Accounting Review , vol.69 , pp. 429-453
    • Feltham, G.1    Xie, J.2
  • 24
    • 21144462546 scopus 로고
    • A nonlinear model of security price responses to unexpected earnings
    • FREEMAN, R., AND S. TSE. "A Nonlinear Model of Security Price Responses to Unexpected Earnings." Journal of Accounting Research 30 (1992): 185-209.
    • (1992) Journal of Accounting Research , vol.30 , pp. 185-209
    • Freeman, R.1    Tse, S.2
  • 26
    • 33645137016 scopus 로고    scopus 로고
    • Accounting earnings processes, intertemporal incentives and their implications for valuation
    • GOVINDARAJ, S., AND R. RAMAKRISHNAN. "Accounting Earnings Processes, Intertemporal Incentives and Their Implications for Valuation." Review of Accounting Studies 6 (2001): 427-57.
    • (2001) Review of Accounting Studies , vol.6 , pp. 427-457
    • Govindaraj, S.1    Ramakrishnan, R.2
  • 27
    • 0002430504 scopus 로고
    • Multi-task principal-agent analyses: Incentive contracts, asset ownership and job design
    • HOLMSTROM, B., AND P. MILGROM. "Multi-task Principal-Agent Analyses: Incentive Contracts, Asset Ownership and Job Design." Journal of Law, Economics and Organizations 7 (1991): 24-52.
    • (1991) Journal of Law, Economics and Organizations , vol.7 , pp. 24-52
    • Holmstrom, B.1    Milgrom, P.2
  • 28
    • 0002604908 scopus 로고    scopus 로고
    • The relevance of the value-relevance literature for financial accounting standard setting
    • HOLTHAUSEN, R. W., AND R. L. WATTS. "The Relevance of the Value-Relevance Literature for Financial Accounting Standard Setting." Journal of Ac counting and Economics 31 (2001): 3-75.
    • (2001) Journal of Ac Counting and Economics , vol.31 , pp. 3-75
    • Holthausen, R.W.1    Watts, R.L.2
  • 29
    • 0000072575 scopus 로고
    • Executive pay and performance: Evidence from the U.S. banking industry
    • HUBBARD, G., AND D. PALIA. Executive Pay and Performance: Evidence from the U.S. Banking Industry." Journal of Finance and Economics 39 (1995): 105-30.
    • (1995) Journal of Finance and Economics , vol.39 , pp. 105-130
    • Hubbard, G.1    Palia, D.2
  • 30
    • 0031287876 scopus 로고    scopus 로고
    • The choice of performance measures in annual bonus contracts
    • ITTNER, C.; D. LARCKER; AND M. RAJAN. "The Choice of Performance Measures in Annual Bonus Contracts." The Accounting Review 72 (1997): 231-55.
    • (1997) The Accounting Review , vol.72 , pp. 231-255
    • Ittner, C.1    Larcker, D.2    Rajan, M.3
  • 33
    • 0000055398 scopus 로고
    • Earnings innovations, earnings persistence, and stock returns
    • KORMENDI, R., AND R. LIPE. "Earnings Innovations, Earnings Persistence, and Stock Returns." Journal of Business 60 (1987): 323-45.
    • (1987) Journal of Business , vol.60 , pp. 323-345
    • Kormendi, R.1    Lipe, R.2
  • 35
    • 38249012163 scopus 로고
    • Information in prices about future earnings: Implications for earnings response coefficients
    • KOTHARI, S. P., AND R. SLOAN. Information in Prices About Future Earnings: Implications for Earnings Response Coefficients." Journal of Accounting and Economics 15 (1992): 143-71.
    • (1992) Journal of Accounting and Economics , vol.15 , pp. 143-171
    • Kothari, S.P.1    Sloan, R.2
  • 37
    • 0001849066 scopus 로고
    • An analysis of the use of accounting and market measures of performance in executive compensation contracts
    • LAMBERT, R., AND D. LARCKER. "An Analysis of the Use of Accounting and Market Measures of Performance in Executive Compensation Contracts." Journal of Accounting Research 25 (1987): 85-125.
    • (1987) Journal of Accounting Research , vol.25 , pp. 85-125
    • Lambert, R.1    Larcker, D.2
  • 38
    • 77951519785 scopus 로고    scopus 로고
    • Executive compensation
    • edited by O. Ashenfelter and D. Card. Amsterdam: North Holland
    • MURPHY, K. J. "Executive Compensation," in Handbook of Labor Economics, Volume 3, edited by O. Ashenfelter and D. Card. Amsterdam: North Holland, 1998: 2485-557.
    • (1998) Handbook of Labor Economics , vol.3 , pp. 2485-2557
    • Murphy, K.J.1
  • 39
    • 34147174662 scopus 로고    scopus 로고
    • Discretion in executive incentive contracts: Theory and evidence
    • Stanford University
    • MURPHY, K. J., AND P. OVER. "Discretion in Executive Incentive Contracts: Theory and Evidence." Working paper, Stanford University, 2002.
    • (2002) Working Paper
    • Murphy, K.J.1    Over, P.2
  • 41
    • 84984180909 scopus 로고
    • Earnings, book value, and dividends in security valuation
    • OHLSON, J. "Earnings, Book Value, and Dividends in Security Valuation." Contemporary Accounting Research 11 (1995): 661-87.
    • (1995) Contemporary Accounting Research , vol.11 , pp. 661-687
    • Ohlson, J.1
  • 42
    • 0348238242 scopus 로고    scopus 로고
    • Earnings, book values, and dividends in a stewardship setting with moral hazard
    • OHLSON, J. "Earnings, Book Values, and Dividends in a Stewardship Setting with Moral Hazard." Contemporary Accounting Research 16 (1999a): 525-40.
    • (1999) Contemporary Accounting Research , vol.16 , pp. 525-540
    • Ohlson, J.1
  • 44
    • 0001447776 scopus 로고
    • Econometric issues in the analysis of regressions with generated regressors
    • PAGAN, A. "Econometric Issues in the Analysis of Regressions with Generated Regressors." International Economic Review 25 (1984): 221-47.
    • (1984) International Economic Review , vol.25 , pp. 221-247
    • Pagan, A.1
  • 45
    • 0000297121 scopus 로고
    • On the efficiency of stock-based compensation
    • PAUL, J. "On the Efficiency of Stock-Based Compensation." Review of Financial Studies 5 (1992): 471-502.
    • (1992) Review of Financial Studies , vol.5 , pp. 471-502
    • Paul, J.1
  • 46
    • 0001185343 scopus 로고    scopus 로고
    • Investment decisions and managerial performance evaluation
    • REICHELSTEIN, S. "Investment Decisions and Managerial Performance Evaluation." Review of Accounting Studies 2 (1997): 157-80.
    • (1997) Review of Accounting Studies , vol.2 , pp. 157-180
    • Reichelstein, S.1
  • 47
    • 0001764317 scopus 로고    scopus 로고
    • Intertemporal cost allocation and managerial investment incentives: A theory explaining the use of economic value added as a performance measure
    • ROGERSON, W. "Intertemporal Cost Allocation and Managerial Investment Incentives: A Theory Explaining the Use of Economic Value Added as a Performance Measure." Journal of Political Economy 105 (1997): 770-95.
    • (1997) Journal of Political Economy , vol.105 , pp. 770-795
    • Rogerson, W.1
  • 48
    • 0002857961 scopus 로고
    • Accounting earnings and top executive compensation
    • SLOAN, R. "Accounting Earnings and Top Executive Compensation." Journal of Accounting and Economics 16 (1993): 55-100.
    • (1993) Journal of Accounting and Economics , vol.16 , pp. 55-100
    • Sloan, R.1
  • 49
    • 2342505938 scopus 로고
    • The investment opportunity set and corporate financing, dividend and compensation policies
    • SMITH, C., AND R. WATTS. "The Investment Opportunity Set and Corporate Financing, Dividend and Compensation Policies." Journal of Financial Economics 32 (1992): 263-92.
    • (1992) Journal of Financial Economics , vol.32 , pp. 263-292
    • Smith, C.1    Watts, R.2
  • 50
    • 0000095552 scopus 로고
    • A heteroscedasticity-consistent covarience matrix estimator and a direct test of heteroscedasticity
    • WHITE, H. "A Heteroscedasticity-Consistent Covarience Matrix Estimator and a Direct Test of Heteroscedasticity." Econometrica 48 (1980): 817-38.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.