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Sampled on in Chinese listed companies in 2005-2008 used the Panel date model, this paper discussed how capital structure influent the top managerial compensation. From the empirical research, I find a significant positive association between compensation and capital structure. And the significance level is higher in state-owned companies than in privately-owned companies.
We researched how the factors such as the performance of the company, financial position, company size, audit observations, regional differences and equity structure influenced the information disclosure of internal controls. We found that the performance of the company, whether or not been punished by the SFC and the audit opinion significantly influenced the behavior of internal control information...
Accounting fraud has gone beyond the scope of accounting and has evolved into a social issue of concern, which not only against the interests of all sectors of society people, but also undermined the market order and competition order. So it has important practical significance to meticulously study on accounting fraud. In this paper, we tested the influence of internal governance control environment...
In this paper, I study the relationship between performance of companies and the levels of executive equity-based incentive and find there's a significantly positive relationship between performance of companies and the levels of restricted stock incentive, but there's a non-significantly positive relationship between performance and the levels of stock option incentive. On the other hand, the relationship...
Analysis and interpret the underlying mechanism of the volatility rule for amount and scope of accounting manipulation by using Analytic Hierarchy Process (AHP) in this paper. I proposed that there is always the volatility in the long run according to the fluctuations rule. And the inverted U-shaped trend will be shown on sometime either in the short or In the long run. So, we should strengthen the...
We assumed the managers are risk neutral, and use sensitivity to pay-performance to represent the effect on equity-based incentive. Then, we use the principal-agency model to compare the effect on restricted stock incentive with the effect on stock option incentive. We got the conclusion as following, the effect on restricted stock incentive is more than that on stock option incentive when grant price...
The damage of accounting fraud is catastrophic to economic development. Accounting fraud is the results of trade-off between pursuits of the interests and minimum the regulatory expenses as well as the illegal manners of bucking for economic benefits. We analyze the behavior of the accounting fraud by using economic principles, and construct the optimal dynamic process for the effectiveness of accounting...
This study examines the extent of managerial influence over executive stock incentive plans in an immature market economy, namely, China. Using a sample of 53 stock incentive plans in Chinese publicly listed companies during 2006-2007, we find a significant decline in stock prices before the disclosure of stock incentive plans and a significant increase in stock prices shortly after the disclosure,...
Sampled on listed companies which implemented equity incentives after equity division reform, this paper studied the relationship between levels of equity-based incentives and company performance, which is represented by market and integrated accounting performance. We find that a significant difference of companies' performance after giving executive equity-based incentive. Moreover, there's a significantly...
Using the dates come from 569 companies listed before 2006, we test the factors which affect the executive equity-based incentive levels and performance. The equity-based incentive performance is significant positive correlation with the levels of executive equity-based incentive. It shows equity-based incentive can improve company performance. When adding interaction variables in equation, we found...
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