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CEO pay contracts and IFRS reconciliations
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Voulgaris, Georgios, Stathopoulos, Konstantinos and Walker, Martin (2015) CEO pay contracts and IFRS reconciliations. European Accounting Review, 24 (1). pp. 63-93. doi:10.1080/09638180.2014.894927 ISSN 0963-8180.
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Official URL: http://dx.doi.org/10.1080/09638180.2014.894927
Abstract
We examine whether UK managers exploit the discretion provided in the UK GAAP to IFRS reconciliation process to manage earnings and whether this earnings management is associated with the structure of the managers' compensation contracts. We use a comprehensive data set of mainly hand-collected information from the firms' annual reports to provide evidence that, given the existence of an accounting-related vesting target in their pay schemes, CEOs use UK GAAP to IFRS reconciliations as an earnings management tool. We test our hypotheses under a number of different specifications, including a propensity score matching analysis. Our study contributes to the literature on the relation between earnings management and contractual incentives by focusing on a major structural change in accounting policies.
Item Type: | Journal Article | ||||||||||
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Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||||||
Journal or Publication Title: | European Accounting Review | ||||||||||
Publisher: | Routledge | ||||||||||
ISSN: | 0963-8180 | ||||||||||
Official Date: | 2015 | ||||||||||
Dates: |
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Volume: | 24 | ||||||||||
Number: | 1 | ||||||||||
Number of Pages: | 38 | ||||||||||
Page Range: | pp. 63-93 | ||||||||||
DOI: | 10.1080/09638180.2014.894927 | ||||||||||
Status: | Peer Reviewed | ||||||||||
Publication Status: | Published | ||||||||||
Access rights to Published version: | Restricted or Subscription Access |
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