The International Journal of Organizational Analysis · 1997 · 11 citations · 34 references
BusinessPerformance ManagementCorporate DisclosureCorporate ReportingExecutive CompensationFinancial Statement PresentationFinancial StatementsLegitimacy ManagementProxy Statement DisclosureClarityFirm Financial PerformanceFirm PerformanceManagement OwnershipObfuscationProxy Statement DesignProxy Statement EffectivenessProxy Statement Framing
The relationship between the clarity of proxy statement presentation of executive compensation, the level of compensation and firm performance was examined Consistent with the argument that firms attempt to avoid potential threats to legitimacy, clarity of presentation and the level of executive compensation were negatively related. There was no relation between firm performance and presentation clarity. Management stock ownership was not related to clarity of presentation.
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Management ownership and market valuation
Andrei Shleifer, Robert W. Vishny · Journal of Financial Economics · 1988 · 7.1K citations · Full text