Excess perks and stock price crash risk: Evidence from China

Adithipyangkul, 2011, Executive perks: compensation and corporate performance in China, Asia Pac. J. Manag., 28, 401, 10.1007/s10490-009-9162-3

Benmelech, 2010, Stock-based compensation and CEO (dis)incentives, Q. J. Econ., 125, 1769, 10.1162/qjec.2010.125.4.1769

Bleck, 2007, Market transparency and the accounting regime, J. Account. Res., 45, 229, 10.1111/j.1475-679X.2007.00231.x

Cai, 2011, Eat, drink, firms, government: an investigation of corruption from entertainment and travel costs of Chinese firms, J. Law Econ., 54, 55, 10.1086/651201

Chen, 2001, Forecasting crashes: trading volume, past returns, and conditional skewness in stock prices, J. Financ. Econ., 61, 345, 10.1016/S0304-405X(01)00066-6

Chen, 2010, Do Managers Perform for Perks?

Coffee, 1999, The future as history: the prospects for global convergence in corporate governance and its implications, Northwest. Univ. Law Rev., 93, 641

Coffee, 2002, Racing towards the top? The impact of cross-listings and stock market competition on international corporate governance, C. Law Rev., 102, 1757

Dechow, 1995, Detecting earnings management, Account. Rev., 70, 193

Desai, 2009, Corporate tax avoidance and firm value, Rev. Econ. Stat., 91, 537, 10.1162/rest.91.3.537

Fama, 1980, Agency problems and the theory of the firm, J. Polit. Econ., 88, 288, 10.1086/260866

Fan, 2011

Gibbons, 1992, Optimal incentive contracts in the presence of career concerns: theory and evidence, J. Polit. Econ., 100, 468, 10.1086/261826

Gul, 2010, Ownership concentration, foreign shareholding, audit quality, and stock price synchronicity: evidence from China, J. Financ. Econ., 95, 425, 10.1016/j.jfineco.2009.11.005

Gul, 2011, Perks and the informativeness of stock prices in the Chinese market, J. Corp. Financ., 17, 1410, 10.1016/j.jcorpfin.2011.07.005

Hartzell, 2003, Institutional investors and executive compensation, J. Financ., 58, 2351, 10.1046/j.1540-6261.2003.00608.x

Hutton, 2009, Opaque financial reports, R2, and crash risk, J. Financ. Econ., 94, 67, 10.1016/j.jfineco.2008.10.003

Jensen, 1986, Agency costs of free cash flow, corporate finance and takeovers, Am. Econ. Rev., 76, 323

Jensen, 1976, Theory of the firm: managerial behavior, agency cost and ownership structure, J. Financ. Econ., 3, 305, 10.1016/0304-405X(76)90026-X

Jin, 2006, R2 around the world: new theory and new tests, J. Financ. Econ., 79, 257, 10.1016/j.jfineco.2004.11.003

Khan, 2009, Estimation and empirical properties of a firm-year measure of accounting conservatism, J. Account. Econ., 48, 132, 10.1016/j.jacceco.2009.08.002

Kim, 2014, Accounting conservatism and stock price crash risk: firm-level evidence, Contemp. Account. Res.

Kim, 2014, Financial reporting opacity and expected crash risk: evidence from implied volatility smirks, Contemp. Account. Res., 10.1111/1911-3846.12048

Kim, 2011, Corporate tax avoidance and stock price crash risk: firm-level analysis, J. Financ. Econ., 100, 639, 10.1016/j.jfineco.2010.07.007

Kim, 2011, CEO versus CFO: equity incentives and crashes, J. Financ. Econ., 101, 713, 10.1016/j.jfineco.2011.03.013

Klein, 1998, Firm performance and board committee structure, J. Law Econ., 41, 137, 10.1086/467391

Kothari, 2009, Do managers withhold bad news?, J. Account. Res., 47, 241, 10.1111/j.1475-679X.2008.00318.x

Luo, 2011, Bank ownership and executive perquisites: new evidence from an emerging market, J. Corp. Financ., 17, 352, 10.1016/j.jcorpfin.2010.09.010

Marino, 2008, Work-related perks, agency problems, and optimal incentive contracts, RAND J. Econ., 39, 565, 10.1111/j.0741-6261.2008.00028.x

Petersen, 2009, Estimating standard errors in finance panel datasets: comparing approaches, Rev. Financ. Stud., 22, 435, 10.1093/rfs/hhn053

Rajan, 2006, Are perks purely managerial excess?, J. Financ. Econ., 79, 1, 10.1016/j.jfineco.2005.01.003

Roberts, 2012, Endogeneity in empirical corporate finance, vol. 2

Weisbach, 1988, Outside directors and CEO turnover, J. Financ. Econ., 20, 431, 10.1016/0304-405X(88)90053-0

Yermack, 1996, Higher market valuations of companies with a small board of directors, J. Financ. Econ., 40, 185, 10.1016/0304-405X(95)00844-5

Yermack, 2006, Flights of fancy: corporate jets, CEO perquisites, and inferior shareholder returns, J. Financ. Econ., 80, 211, 10.1016/j.jfineco.2005.05.002