메뉴 건너뛰기




Volumn 35, Issue 9-10, 2008, Pages 1079-1102

Accounting choices and director interlocks: A social network approach to the voluntary expensing of stock option grants

Author keywords

Director interlocks; SFAS 123; Social network; Voluntary disclosures

Indexed keywords


EID: 56649089459     PISSN: 0306686X     EISSN: 14685957     Source Type: Journal    
DOI: 10.1111/j.1468-5957.2008.02114.x     Document Type: Article
Times cited : (29)

References (48)
  • 1
    • 2442620196 scopus 로고    scopus 로고
    • Firms' Voluntary Recognition of Stock-Based Compensation Expense
    • and. Vol. No. pp.
    • Aboody, D., M. E. Barth and R. Kasznik (2004 Firms' Voluntary Recognition of Stock-Based Compensation Expense Journal of Accounting Research, Vol. 42, No. 2, pp. 123 50.
    • (2004) Journal of Accounting Research , vol.42 , Issue.2 , pp. 123-50
    • Aboody, D.1    Barth, M.E.2    Kasznik, R.3
  • 3
    • 29244483408 scopus 로고    scopus 로고
    • The Impact of Performance-Based Compensation on Misreporting
    • and. Vol. No. pp.
    • Burns, N. and S. Kedia (2006 The Impact of Performance-Based Compensation on Misreporting Journal of Financial Economics, Vol. 79, No. 1, pp. 35 67.
    • (2006) Journal of Financial Economics , vol.79 , Issue.1 , pp. 35-67
    • Burns, N.1    Kedia, S.2
  • 4
    • 84936628790 scopus 로고
    • Social Contagion and Innovation: Cohesion Versus Structural Equivalence
    • Vol. No. pp.
    • Burt, R. S. (1987 Social Contagion and Innovation: Cohesion Versus Structural Equivalence American Journal of Sociology, Vol. 92, No. 6, pp. 1287 335.
    • (1987) American Journal of Sociology , vol.92 , Issue.6 , pp. 1287-335
    • Burt, R.S.1
  • 6
    • 1142289719 scopus 로고    scopus 로고
    • Institutional Monitoring and Opportunistic Earnings Management
    • and. Vol. No. pp.
    • Chung, R., M. Firth and J. B. Kim (2002 Institutional Monitoring and Opportunistic Earnings Management Journal of Corporate Finance, Vol. 8, No. 1, pp. 29 48.
    • (2002) Journal of Corporate Finance , vol.8 , Issue.1 , pp. 29-48
    • Chung, R.1    Firth, M.2    Kim, J.B.3
  • 7
    • 84934453286 scopus 로고
    • Agents without Principles? the Spread of the Poison Pill through the Intercorporate Network
    • Vol. No. pp.
    • Davis, G. F. (1991 Agents without Principles? The Spread of the Poison Pill through the Intercorporate Network Administrative Science Quarterly, Vol. 36, No. 4, pp. 583 613.
    • (1991) Administrative Science Quarterly , vol.36 , Issue.4 , pp. 583-613
    • Davis, G.F.1
  • 8
    • 0031426486 scopus 로고    scopus 로고
    • Corporate Elite Networks and Governance Changes in the 1980s
    • and. Vol. No. pp.
    • Davis, G. F. and H. R. Greve (1997 Corporate Elite Networks and Governance Changes in the 1980s American Journal of Sociology, Vol. 103, No. 1, pp. 1 37.
    • (1997) American Journal of Sociology , vol.103 , Issue.1 , pp. 1-37
    • Davis, G.F.1    Greve, H.R.2
  • 9
    • 14844330233 scopus 로고    scopus 로고
    • Economic Consequences of Accounting for Stock-Based Compensation
    • and. Vol. pp.
    • DeChow, P. M., A. P. Hutton and R. G. Sloan (1996 Economic Consequences of Accounting for Stock-Based Compensation Journal of Accounting Research, Vol. 34 (Supplement pp. 1 20.
    • (1996) Journal of Accounting Research , vol.34 , pp. 1-20
    • Dechow, P.M.1    Hutton, A.P.2    Sloan, R.G.3
  • 10
    • 33645883520 scopus 로고    scopus 로고
    • Is There a Dark Side to Incentive Compensation?'
    • and. Vol. No. pp.
    • Denis, D. J., P. Hanouna and A. Sarin (2006 Is There a Dark Side to Incentive Compensation?' Journal of Corporate Finance, Vol. 12, No. 3, pp. 467 88.
    • (2006) Journal of Corporate Finance , vol.12 , Issue.3 , pp. 467-88
    • Denis, D.J.1    Hanouna, P.2    Sarin, A.3
  • 11
    • 33745293753 scopus 로고    scopus 로고
    • Executive Stock Options: To Expense or Not?'
    • and. Vol. No. pp.
    • Deshmukh, S., K. M. Howe and C. Luft (2006 Executive Stock Options: To Expense or Not?' Financial Management, Vol. 35, No. 1, pp. 87 106.
    • (2006) Financial Management , vol.35 , Issue.1 , pp. 87-106
    • Deshmukh, S.1    Howe, K.M.2    Luft, C.3
  • 12
    • 56649098372 scopus 로고    scopus 로고
    • New York Based Institutional Investor Urges CEOs to Expense Stock Options
    • July 25).
    • Dougherty, C. (2002 New York Based Institutional Investor Urges CEOs to Expense Stock Options The Washington Times (July 25).
    • (2002) The Washington Times
    • Dougherty, C.1
  • 13
    • 36448961292 scopus 로고    scopus 로고
    • Investors Like Firms That Expense Employee Stock Options and They Dislike Firms That Fail to Expense
    • and. Vol. No. pp.
    • Elayan, F., K. Pukthuanthong and R. Roll (2005 Investors Like Firms That Expense Employee Stock Options and They Dislike Firms That Fail to Expense Journal of Investment Management, Vol. 3, No. 1, pp. 75 98.
    • (2005) Journal of Investment Management , vol.3 , Issue.1 , pp. 75-98
    • Elayan, F.1    Pukthuanthong, K.2    Roll, R.3
  • 14
    • 33645166634 scopus 로고    scopus 로고
    • Is There a Link between Executive Equity Incentives and Accounting Fraud?'
    • and. Vol. No. pp.
    • Erickson, M., M. Hanlon and E. L. Maydew (2006 Is There a Link between Executive Equity Incentives and Accounting Fraud?' Journal of Accounting Research, Vol. 44, No. 1, pp. 113 43.
    • (2006) Journal of Accounting Research , vol.44 , Issue.1 , pp. 113-43
    • Erickson, M.1    Hanlon, M.2    Maydew, E.L.3
  • 15
    • 0036335818 scopus 로고    scopus 로고
    • Stock Price Reaction and Value Relevance of Recognition Versus Disclosure: The Case of Stock-Based Compensation
    • and. Vol. No. pp.
    • Espahbodi, H., P. Espahbodi, Z. Rezaee and H. Tehranian (2002 Stock Price Reaction and Value Relevance of Recognition Versus Disclosure: The Case of Stock-Based Compensation Journal of Accounting and Economics, Vol. 33, No. 3, pp. 343 73.
    • (2002) Journal of Accounting and Economics , vol.33 , Issue.3 , pp. 343-73
    • Espahbodi, H.1    Espahbodi, P.2    Rezaee, Z.3    Tehranian, H.4
  • 16
    • 56649121564 scopus 로고    scopus 로고
    • 40 Lawmakers Oppose Forcing Firms to Count Options as Costs
    • February 14).
    • Farrell, G. (2003 40 Lawmakers Oppose Forcing Firms to Count Options as Costs USA Today (February 14).
    • (2003) USA Today
    • Farrell, G.1
  • 17
    • 0001746484 scopus 로고
    • The Financial and Market Effects of the SEC's Accounting and Auditing Enforcement Releases
    • and. Vol. pp.
    • Feroz, E. H., K. Park and V. S. Pastena (1991 The Financial and Market Effects of the SEC's Accounting and Auditing Enforcement Releases Journal of Accounting Research, Vol. 29, No., pp. 107 42.
    • (1991) Journal of Accounting Research , vol.29 , pp. 107-42
    • Feroz, E.H.1    Park, K.2    Pastena, V.S.3
  • 18
  • 19
    • 0000029854 scopus 로고
    • Valuation of Executive Stock Options and the FASB Proposal
    • and. Vol. No. pp.
    • Foster, T. W., P. R. Koogler and D. Vickrey (1991 Valuation of Executive Stock Options and the FASB Proposal The Accounting Review, Vol. 66, No. 3, pp. 595 610.
    • (1991) The Accounting Review , vol.66 , Issue.3 , pp. 595-610
    • Foster, T.W.1    Koogler, P.R.2    Vickrey, D.3
  • 20
    • 2542494013 scopus 로고    scopus 로고
    • Characteristics of a Firm's Information Environment and the Information Asymmetry between Insiders and Outsiders
    • and. Vol. No. pp.
    • Frankel, R. and X. Li (2004 Characteristics of a Firm's Information Environment and the Information Asymmetry between Insiders and Outsiders Journal of Accounting and Economics, Vol. 37, No. 2, pp. 229 59.
    • (2004) Journal of Accounting and Economics , vol.37 , Issue.2 , pp. 229-59
    • Frankel, R.1    Li, X.2
  • 21
    • 34247518979 scopus 로고    scopus 로고
    • The Evolution of Stock Option Accounting: Disclosure, Voluntary Recognition, Mandated Recognition, and Management Disavowals
    • and. Vol. No. pp.
    • Fredrickson, J. R., F. D. Hodge and J. H. Pratt (2006 The Evolution of Stock Option Accounting: Disclosure, Voluntary Recognition, Mandated Recognition, and Management Disavowals The Accounting Review, Vol. 81, No. 5, pp. 1073 93.
    • (2006) The Accounting Review , vol.81 , Issue.5 , pp. 1073-93
    • Fredrickson, J.R.1    Hodge, F.D.2    Pratt, J.H.3
  • 22
    • 84935502702 scopus 로고
    • Mimetic Processes within an Interorganizational Field: An Empirical Test
    • and. Vol. No. pp.
    • Galaskiewicz, J. and S. Wasserman (1989 Mimetic Processes within an Interorganizational Field: An Empirical Test Administrative Science Quarterly, Vol. 34, No. 3, pp. 454 79.
    • (1989) Administrative Science Quarterly , vol.34 , Issue.3 , pp. 454-79
    • Galaskiewicz, J.1    Wasserman, S.2
  • 23
    • 0031283716 scopus 로고    scopus 로고
    • The External Ties of Top Executives: Implications for Strategic Choice and Performance
    • and. Vol. No. pp.
    • Geletkanycz, M. A. and D. C. Hambrick (1997 The External Ties of Top Executives: Implications for Strategic Choice and Performance Administrative Science Quarterly, Vol. 42, No. 4, pp. 654 81.
    • (1997) Administrative Science Quarterly , vol.42 , Issue.4 , pp. 654-81
    • Geletkanycz, M.A.1    Hambrick, D.C.2
  • 24
    • 84936824352 scopus 로고
    • Economic Action and Social Structure: The Problem of Embeddedness
    • Vol. No. pp.
    • Granovetter, M. (1985 Economic Action and Social Structure: The Problem of Embeddedness American Journal of Sociology, Vol. 91, No. 3, pp. 481 510.
    • (1985) American Journal of Sociology , vol.91 , Issue.3 , pp. 481-510
    • Granovetter, M.1
  • 25
    • 10144240816 scopus 로고    scopus 로고
    • Accounting for Option-Based Compensation: The Economic Cost Approach
    • and. Vol. pp.
    • Harter, C. I. and T. Harikumar (2002 Accounting for Option-Based Compensation: The Economic Cost Approach Journal of Business Finance & Accounting, Vol. 29, Nos. 7&8, pp. 1007 22.
    • (2002) Journal of Business Finance & Accounting , vol.29 , Issue.78 , pp. 1007-22
    • Harter, C.I.1    Harikumar, T.2
  • 26
    • 85046754669 scopus 로고
    • Interorganizational Imitation: The Impact of Interlocks on Corporate Acquisition Activity
    • Vol. No. pp.
    • Haunschild, P. R. (1993 Interorganizational Imitation: The Impact of Interlocks on Corporate Acquisition Activity Administrative Science Quarterly, Vol. 38, No. 4, pp. 564 92.
    • (1993) Administrative Science Quarterly , vol.38 , Issue.4 , pp. 564-92
    • Haunschild, P.R.1
  • 27
    • 0039372663 scopus 로고    scopus 로고
    • Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies
    • and. Vol. No. pp.
    • Hong, H., T. Lim and J. Stein (2000 Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies Journal of Finance, Vol. 55, No. 1, pp. 265 95.
    • (2000) Journal of Finance , vol.55 , Issue.1 , pp. 265-95
    • Hong, H.1    Lim, T.2    Stein, J.3
  • 29
    • 27144435490 scopus 로고    scopus 로고
    • Management Compensation and Earnings-Based Covenants as Signaling Devices in Credit Markets
    • and. Vol. No. pp.
    • Hughes, J. S. and C. B. Levine (2003 Management Compensation and Earnings-Based Covenants as Signaling Devices in Credit Markets Journal of Corporate Finance, Vol. 11, No. 5, pp. 832 50.
    • (2003) Journal of Corporate Finance , vol.11 , Issue.5 , pp. 832-50
    • Hughes, J.S.1    Levine, C.B.2
  • 30
    • 21144468888 scopus 로고
    • A Comment on "valuation of Executive Stock Options and the FASB Proposal"
    • and. Vol. No. pp.
    • Jennergren, L. P. and B. Naslund (1993 A Comment On "Valuation of Executive Stock Options and the FASB Proposal" The Accounting Review, Vol. 68, No. 1, pp. 179 83.
    • (1993) The Accounting Review , vol.68 , Issue.1 , pp. 179-83
    • Jennergren, L.P.1    Naslund, B.2
  • 31
    • 47649094594 scopus 로고    scopus 로고
    • Director Interlocks and Spillover Effects of Reputational Penalties from Financial Reporting Fraud
    • Vol. No. pp.
    • Kang, E. (2008 Director Interlocks and Spillover Effects of Reputational Penalties from Financial Reporting Fraud Academy of Management Journal, Vol. 51, No. 3, pp. 537 55.
    • (2008) Academy of Management Journal , vol.51 , Issue.3 , pp. 537-55
    • Kang, E.1
  • 32
    • 85050840323 scopus 로고
    • The Reputational Penalty Firms Bear from Committing Criminal Fraud
    • and. Vol. No. pp.
    • Karpoff, J. M. and J. R. Lott (1993 The Reputational Penalty Firms Bear from Committing Criminal Fraud Journal of Law & Economics, Vol. 36, No. 2, pp. 757 802.
    • (1993) Journal of Law & Economics , vol.36 , Issue.2 , pp. 757-802
    • Karpoff, J.M.1    Lott, J.R.2
  • 33
    • 0032218159 scopus 로고    scopus 로고
    • Learning by Association? Interorganizational Networks and Adaptation to Environmental Change
    • Vol. No. pp.
    • Kraatz, M. S. (1998 Learning by Association? Interorganizational Networks and Adaptation to Environmental Change Academy of Management Journal, Vol. 41, No. 6, pp. 621 43.
    • (1998) Academy of Management Journal , vol.41 , Issue.6 , pp. 621-43
    • Kraatz, M.S.1
  • 34
    • 56649118457 scopus 로고    scopus 로고
    • An Institutional Group is Close to Switching its Stance on Stock Options
    • February 9).
    • Leonhardt, D. (2002a An Institutional Group is Close to Switching its Stance on Stock Options The New York Times (February 9).
    • (2002) The New York Times
    • Leonhardt, D.1
  • 35
    • 84909198661 scopus 로고    scopus 로고
    • How Will Washington Read the Signs? Revived Debate on Stock Options
    • February 10).
    • Leonhardt, D. (2002b How Will Washington Read the Signs? Revived Debate on Stock Options The New York Times (February 10).
    • (2002) The New York Times
    • Leonhardt, D.1
  • 36
    • 26844502745 scopus 로고    scopus 로고
    • The Effect of Exercise Date Uncertainty on Employee Stock Option Value
    • and. Vol. pp.
    • Maris, B. A., J.-M. Maris and T. T. Yang (2003 The Effect of Exercise Date Uncertainty on Employee Stock Option Value Journal of Business Finance & Accounting, Vol. 30, Nos. 5&6, pp. 669 97.
    • (2003) Journal of Business Finance & Accounting , vol.30 , Issue.56 , pp. 669-97
    • Maris, B.A.1    Maris, J.-M.2    Yang, T.T.3
  • 37
    • 0001427167 scopus 로고    scopus 로고
    • What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates
    • Vol. No. pp.
    • Mizruchi, M. S. (1996 What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates Annual Review of Sociology, Vol. 22, No. 1, pp. 271 98.
    • (1996) Annual Review of Sociology , vol.22 , Issue.1 , pp. 271-98
    • Mizruchi, M.S.1
  • 38
    • 43949110820 scopus 로고
    • Accounting Board Yields on Stock Options
    • December 15).
    • Norris, F. (1994 Accounting Board Yields on Stock Options The New York Times (December 15).
    • (1994) The New York Times
    • Norris, F.1
  • 39
    • 33745715006 scopus 로고    scopus 로고
    • Do CEO Stock Options Prevent or Promote Fraudulent Financial Reporting?'
    • and. Vol. No. pp.
    • O'Connor, J. P., R. L. Priem, J. E. Coombs and K. M. Gilley (2006 Do CEO Stock Options Prevent or Promote Fraudulent Financial Reporting?' Academy of Management Journal, Vol. 49, No. 3, pp. 483 500.
    • (2006) Academy of Management Journal , vol.49 , Issue.3 , pp. 483-500
    • O'Connor, J.P.1    Priem, R.L.2    Coombs, J.E.3    Gilley, K.M.4
  • 40
    • 84893899451 scopus 로고
    • Late Adoption of the Multidivisional Form by Large U.S. Corporations: Institutional, Political and Economic Accounts
    • and. Vol. No. pp.
    • Palmer, D. A., P. D. Jennings and X. Zhou (1993 Late Adoption of the Multidivisional Form by Large U.S. Corporations: Institutional, Political and Economic Accounts Administrative Science Quarterly, Vol. 38, No. 1, pp. 100 31.
    • (1993) Administrative Science Quarterly , vol.38 , Issue.1 , pp. 100-31
    • Palmer, D.A.1    Jennings, P.D.2    Zhou, X.3
  • 41
    • 1342264807 scopus 로고    scopus 로고
    • Determinants of Market Reactions to Restatement Announcements
    • and. Vol. No. pp.
    • Palmrose, Z. V., V. J. Richardson and S. Scholz (2004 Determinants of Market Reactions to Restatement Announcements Journal of Accounting and Economics, Vol. 37, No. 1, pp. 59 89.
    • (2004) Journal of Accounting and Economics , vol.37 , Issue.1 , pp. 59-89
    • Palmrose, Z.V.1    Richardson, V.J.2    Scholz, S.3
  • 42
    • 56649118458 scopus 로고    scopus 로고
    • Accounting Issues: 576 Companies Have Voluntarily Adopted Option Expensing under the Fair Value Method
    • and. April 29).
    • Pegg, J., C. Senyet and D. Mott (2004 Accounting Issues: 576 Companies Have Voluntarily Adopted Option Expensing Under the Fair Value Method Bear Stearns Equity Research (April 29).
    • (2004) Bear Stearns Equity Research
    • Pegg, J.1    Senyet, C.2    Mott, D.3
  • 44
    • 2442611763 scopus 로고    scopus 로고
    • Discussion of Firms' Voluntary Recognition of Stock-Based Compensation Expense
    • Vol. No. pp.
    • Schrand, C. (2004 Discussion of Firms' Voluntary Recognition of Stock-Based Compensation Expense Journal of Accounting Research, Vol. 42, No. 2, pp. 151 58.
    • (2004) Journal of Accounting Research , vol.42 , Issue.2 , pp. 151-58
    • Schrand, C.1
  • 45
    • 0001307455 scopus 로고
    • Commitment in an Experimenting Society: An Experiment on the Attribution of Leadership from Administrative Scenarios
    • and. Vol. No. pp.
    • Staw, B. M. and J. Ross (1980 Commitment in an Experimenting Society: An Experiment on the Attribution of Leadership from Administrative Scenarios Journal of Applied Psychology, Vol. 65, No. 3, pp. 249 60.
    • (1980) Journal of Applied Psychology , vol.65 , Issue.3 , pp. 249-60
    • Staw, B.M.1    Ross, J.2
  • 46
    • 0003695837 scopus 로고
    • New York: Oxford University Press).
    • Useem, M. (1984 The Inner Circle (New York : Oxford University Press).
    • (1984) The Inner Circle
    • Useem, M.1
  • 47
    • 0007116881 scopus 로고    scopus 로고
    • Who Directs Strategic Change? Director Experience, the Selection of New CEOs, and Change in Corporate Strategy
    • and. Vol. No. pp.
    • Westphal, J. D. and J. W. Fredrickson (2001 Who Directs Strategic Change? Director Experience, the Selection of New CEOs, and Change in Corporate Strategy Strategic Management Journal, Vol. 22, No. 12, pp. 1113 37.
    • (2001) Strategic Management Journal , vol.22 , Issue.12 , pp. 1113-37
    • Westphal, J.D.1    Fredrickson, J.W.2
  • 48
    • 0035541708 scopus 로고    scopus 로고
    • Second-Order Imitation: Uncovering Latent Effects of Board Network Ties
    • and. Vol. No. pp.
    • Westphal, J. D., M.-D. L. Seidel and K. J. Stewart (2001 Second-Order Imitation: Uncovering Latent Effects of Board Network Ties Administrative Science Quarterly, Vol. 46, No. 4, pp. 717 47.
    • (2001) Administrative Science Quarterly , vol.46 , Issue.4 , pp. 717-47
    • Westphal, J.D.1    Seidel, M.-D.L.2    Stewart, K.J.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.