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Review of Accounting Studies

, Volume 15, Issue 3, pp 578–583

First Online: 16 March 2010

Abstract

This discussion provides several explanations for the evidence presented in Balachandran and Mohanram 2010 that are consistent with efficient contracting. I also show that—contrary to the suggestion of the title—CEOs do not benefit from value destroying growth in earnings. Finally, I argue that there is no conclusive evidence that corporate investments destroy value.

KeywordsExecutive compensation Profitability Corporate investments JEL ClassificationG34 M41  Download fulltext PDF



Autor: Ingolf Dittmann

Fuente: https://link.springer.com/







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