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Do Earnings Targets and Managerial Incentives Affect Sticky Costs?
15 references·16 citing·37 second hopsampled
Do Earnings Targets and Managerial Incentives Affect Sticky Costs? (2012)Do Earnings Targets and Managerial Incent…Do Managerial Incentives Drive Cost Behavior? Evidence about the Role of the Zero Earnings Benchmark for Labor Cost Behavior in Private Belgian Firms (2012)Do Managerial Incentives Driv…The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs* (2011)The Agency Problem, Corporate…Cost Behavior and Analysts’ Earnings Forecasts (2010)Cost Behavior and Analysts’ E…Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods (2008)Real and Accrual-Based Earnin…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2008)Estimating Standard Errors in…Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches (2006)Estimating Standard Errors in…The economic implications of corporate financial reporting (2005)The economic implications of …The Economic Implications of Corporate Financial Reporting (2004)The Economic Implications of …Earnings Management through Real Activities Manipulation (2003)Earnings Management through R…Are Selling, General, and Administrative Costs “Sticky”? (2003)Are Selling, General, and Adm…The Influence of Institutional Investors on Myopic R&D Investment Behavior (1998)The Influence of Institutiona…Earnings management to avoid earnings decreases and losses (1997)Earnings management to avoid …A Unified Model of Investment Under Uncertainty (1993)A Unified Model of Investment…Executive incentives and the horizon problem (1991)Executive incentives and the …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Political Economy of Labor Employment Decisions: Evidence from China (2020)The Political Economy of Labo…Asymmetric Cost Behavior and Dividend Policy (2020)Asymmetric Cost Behavior and …Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World (2019)Political Uncertainty and Cos…Labor adjustment costs and asymmetric cost behavior: An extension (2019)Labor adjustment costs and as…Does community social capital affect asymmetric cost behaviour? (2019)Does community social capital…A contextual analysis of the impact of managerial expectations on asymmetric cost behavior (2019)A contextual analysis of the …Cost Management Research (2017)Cost Management ResearchUnraveling the Black Box of Cost Behavior: An Empirical Investigation of Risk Drivers, Managerial Resource Procurement, and Cost Elasticity (2015)Unraveling the Black Box of C…The Impact of Changes in Regulation on Cost Behavior (2014)The Impact of Changes in Regu…Organisation capital and sticky behaviour of selling, general and administrative expenses (2014)Organisation capital and stic…Asymmetric Cost Behavior (2014)Asymmetric Cost BehaviorSticky cost behaviour: evidence from small and medium sized companies (2013)Sticky cost behaviour: eviden…Does Religion Mitigate Tunneling? Evidence from Chinese Buddhism (2013)Does Religion Mitigate Tunnel…Demand Uncertainty and Cost Behavior (2013)Demand Uncertainty and Cost B…The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behavior (2011)The Moderating Effect of Prio…Determinants of ‘Sticky Costs': An Analysis of Cost Behavior using United States Air Transportation Industry Data (2011)Determinants of ‘Sticky Costs…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Positive Accounting Theory (1985)Outside directors and CEO turnover (1988)Capital markets research in accounting (2001)CEO Characteristics and Firm R&D Spending (2002)The role of information and financial reporting in corporate governance and debt contracting (2010)The Capital Structure Puzzle (1984)Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)A Review of the Earnings Management Literature and Its Implications for Standard Setting (1999)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Detecting Earnings Management. (1995)Earnings management and investor protection: an international comparison (2003)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Specification Tests in Econometrics (1978)Econometric Analysis of Cross Section and Panel Data (2001)More Than Words: Quantifying Language to Measure Firms' Fundamentals (2008)Common Errors: How to (and Not to) Control for Unobserved Heterogeneity (2012)Corporate Immunity to the COVID-19 Pandemic (2020)Earnings Management During Import Relief Investigations (1991)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The theory and practice of corporate finance: evidence from the field (2001)A review of tax research (2010)Evidence on the Trade-Off between Real Activities Manipulation and Accrual-Based Earnings Management (2011)Performance matched discretionary accrual measures (2005)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)Opaque financial reports, R2, and crash risk☆ (2009)A review of archival auditing research (2014)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Robust Inference With Multiway Clustering (2011)Policy Uncertainty and Corporate Investment (2015)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 2008Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches10,793 cited
  • 2005The economic implications of corporate financial reporting6,337 cited
  • 2003Earnings Management through Real Activities Manipulation5,422 cited
  • 1997Earnings management to avoid earnings decreases and losses3,839 cited
  • 2008Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods3,082 cited
  • 1998The Influence of Institutional Investors on Myopic R&D Investment Behavior3,013 cited
  • 2006Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches2,559 cited
  • 2004The Economic Implications of Corporate Financial Reporting1,998 cited
  • 1991Executive incentives and the horizon problem1,554 cited
  • 2003Are Selling, General, and Administrative Costs “Sticky”?1,361 cited
  • 1993A Unified Model of Investment Under Uncertainty970 cited
  • 2011The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs*826 cited
  • 2010Cost Behavior and Analysts’ Earnings Forecasts543 cited
  • 2012Do Managerial Incentives Drive Cost Behavior? Evidence about the Role of the Zero Earnings Benchmark for Labor Cost Behavior in Private Belgian Firms

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Cited by

  • 2014Asymmetric Cost Behavior454 cited
  • 2011The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behavior337 cited
  • 2013Demand Uncertainty and Cost Behavior260 cited
  • 2020The Political Economy of Labor Employment Decisions: Evidence from China198 cited
  • 2014The Impact of Changes in Regulation on Cost Behavior193 cited
  • 2017Cost Management Research177 cited
  • 2011Determinants of ‘Sticky Costs': An Analysis of Cost Behavior using United States Air Transportation Industry Data171 cited
  • 2019Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World170 cited
  • 2013Does Religion Mitigate Tunneling? Evidence from Chinese Buddhism157 cited
  • 2014Organisation capital and sticky behaviour of selling, general and administrative expenses152 cited
  • 2015Unraveling the Black Box of Cost Behavior: An Empirical Investigation of Risk Drivers, Managerial Resource Procurement, and Cost Elasticity148 cited
  • 2019Labor adjustment costs and asymmetric cost behavior: An extension145 cited
  • 2020Asymmetric Cost Behavior and Dividend Policy130 cited
  • 2019Does community social capital affect asymmetric cost behaviour?129 cited
  • 2019A contextual analysis of the impact of managerial expectations on asymmetric cost behavior124 cited
  • 2013Sticky cost behaviour: evidence from small and medium sized companies118 cited