Boards of directors often implement long-term performance plans (LTPP) to focus
management's attention on enhancing long-term shareholder value instead of
concentrating their efforts on short-term earnings. This study provides
estimation results suggesting that firms that compensate managers with LTPP are
associated with lower levels of managed earnings than firms that have only
short-term bonus p... hiện toàn bộ
This study examined the relationship between disclosure and the cost of capital.
Prior studies empirically testing this relationship provided mixed findings, and
also raised several concerns, such as the endogeneity of disclosure, the
information disclosure environment, and the sample size. This study investigated
this relationship based on data from the Chinese capital market where a unique
insti... hiện toàn bộ