世界十大高楼（9）

 Part IV. Compensation Contract

1. Accounting Control and organization of the firm (1 Session)

* Required Readings

Core, J. and W. Guay, 1999, The use of equity grants to manage optimal equity incentive levels, Journal of Accounting and Economics, forthcoming.

Kole, S. R., 1997, the complexity of compensation contracts, Journal of Financial Economics 43, 79-104.

Lambert, R.A., and D. Larcker, 1987, An analysis of the use of accounting and market measures of performance in executive compensation contracts, Journal of Accounting Research 25, Supplement, 85-129.

Sloan, R.G., 1993, Accounting earnings and top executive compensation, Journal of Accounting & Economics 16, 55-100.

* Additional Readings

Antle, R. and A. Smith, 1986, An empirical investigation of the relative performance evaluation of corporate executives, Journal of Accounting Research 24, 1-39.

Banker, R. and S. Datar, 1989, Sensitivity, precision and linear aggregation of signals for performance Evaluation, Journal of Accounting Research, 27, 21-39.

Blackwell, D.W., J.A. Brickley, and M.S. Weisbach, 1994, Accounting information and internal performance evaluation, Journal of Accounting and Economics 17, 331-358.

Brickley, D.W., S. Bhaget, and R. Lease, 1985, The impact of long-range managerial compensation plans on shareholder wealth, Journal of Accounting & Economics 7, 115-129.

Bushman, R.M., R.J. Indejkian and A. Smith, 1996, CEO compensation: The role of individual performance evaluation, forthcoming, Journal of Accounting & Economics.

Core, J. and W. Guay, 1999, Stock Option Plans for Non-executive Employees, working paper.

Core, J., R. Holthausen and D. Larcker, Corporate Governance, CEO Compensation and Firm Performance.

Coughlan, A.T. and R.M. Schmidt, 1984, Executive compensation, management turnover and firm performance: An empirical investigation, Journal of Accounting & Economics 7, 43-66.

Gibbons, R. and K. Murphy, 1992, Optimal incentive contracts in the presence of career concerns: Theory and evidence, The Journal of Political Economy 100, 468-505.

Gilson, S., 1989, Management turnover and financial distress, Journal of Financial Economics 25, 241-262.

Gaver, J. and K. Gaver, 1993, Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies, Journal of Accounting and Economics 16, 125-160.

Guay, W., 1998, An empirical analysis of convexity in the relation between CEOs' wealth and stock price, Journal of Financial Economics.

Janakiraman, S. N., R.A. Lambert and D. Larcker, 1992, An empirical investigation of the relative performance evaluation hypothesis, Journal of Accounting Research 30, 53-69.

Jensen, M. and K. Murphy, 1990, Performance pay and top-management incentives, Journal of Political Economic.

Keating, S., 1995 Accounting metrics for division manager performance evaluation, unpublished paper, University of Rochester.

Lambert, R.A., 1993, The use of accounting and security price measures of performance in managerial compensation contracts, Journal of Accounting and Economics 16, 101-123.

Leone A. and S. Rock, 1999, Empirical tests of the ratchet principle and implications for tests of earnings management, working paper.

Murphy, K. J., 1985, Corporate performance and managerial remuneration, Journal of Accounting & Economics 7, 11-42.

Smith, C.W. Jr., and R.L. Watts, 1992, The investment opportunity set and corporate financing, dividend, and compensation policies, Journal of Financial Economics 32, 261-292.

Smith C.W. Jr., and R.L. Watts, 1982, Incentive and tax effects of U.S. executive compensation plans, Australian Journal of Management 7, 139-157.

2.Compensation

Baiman, Stanley, and Robert E.Verrecchia, "Earnings and Price-based Compensation Contracts in the Presence of Discretionary Trading and Incomplete Contracting, " Journal of Accounting and Economics 20 (July 1995): 93-121.

Bushman, Robert M., Qi Chen, Ellen Engel, and Abbie Smith, "The Sensitivitty of Corporate Governance Structures to Measurement and Information Properties of Accounting Numbers"

Bushman, Robert M., Ellen Engel, Jennifer Milliron, and Abbie Smith, "An Analysis of the Relation Between the Dual Roles of Earnings, " Working Paper, University of Chicago, 1998.

Bushman, Robert M., Ellen Engel, Jennifer Milliron, and Abbie Smith, "An Empirical Investigation of the Trends in the Absolute and Relative Use of Earnings in Determining CEO Cash Compensation, " Working Paper, University of Chicago, 1998.

Bushman, Robert M., and Raffi J. Indjejikian, "Accounting Income, Stock Price, and Managerial Compensation, "Journal of Accounting and Economics 16 (Jan/April/July 1993): 2-23.

Srikant M. Datar, Susan Kulp, and Richard A. Lambert, "Balanced Performance Measures, " Working Paper, Harvard Business School, 1999.

Feltham, Gerald A., and Jim Xie, "Performance Measure Congruity and Diversity in Multi-Task Principal/Agent Relations, " The Accounting Review 69 (July 1994): 429-453.

Gjesdal, Frojstein, "Accounting for Stewardship, " Journal of Accounting Research 19 (Spring 1981): 202-231.

Lambert, Richard A., "The Use of Accounting and Security Price Measures of Performance in Managerial Compensation Contracts: A discussion, " Journal of Accounting and Economics 16 (Jan/April/July 1993): 101-123.

Murphy, Kevin J., "Executive Compensation, " Working paper, University of Southern California, 1998.

Sloan, Richard G., "Accounting Earnings and Top Executive Compensation, " Journal of Accounting and Economics 16 (Jan/April/July 1993): 55-100.

Part V. Other

1. More on Quasi-Experimental Design

Cook, T. D. and D. T. Campbell, "Quasi-Experimentation: Design & Analysis Issues for Field Settings. " (Boston: Houghton Mifflin Company, 1979), Chapter 3 (pp. 95-126).

Dukes, R. E., T. R. Dyckman, and J. A. Elliott, "Accounting for Research and Development Costs: The Impact on Research and Development Expenditures," Journal of Accounting Research (Supplement 1980): 1-26.

Ball, R., "Discussion of Accounting for Research and Development Costs: The Impact on Research and Development Expenditures," Journal of Accounting Research (Supplement 1980): 27-37.

McNichols, M. and J. G. Manegold, "The Effect of the Information Environment on the Relationship Between Financial Disclosure and Security Price Variability," Journal of Accounting and Economics 5 (1983): 49-74.

2. Introduction to Contracting Theory, Studies of Accounting Method Choice

Jensen, M. C., and W. H. Meckling, "Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure," Journal of Financial Economics 3 (1976): 305-360.

Watts, R. L., and J. L. Zimmerman, "Positive Accounting Theory." (Englewood Cliffs: Prentice Hall, 1986), Chapters 9, 10, and 11.

Holthausen, R. W. and R. W. Leftwich, "The Economic Consequences of Accounting Choice", Journal of Accounting and Economics 5 (1983) 77-117.

Leftwich, R., "Accounting Information in Private Markets: Evidence from Private Lending Agreements," Accounting Review 58 (1983): 23-42.