Firm Performance and Business Cycles:Implications for Managerial Accountability
作者： Fabio Yoshio Suguri Motoki , Carlos Enrique Carrasco Gutierrez
关键词: Self attribution 、 Accountability 、 Business cycle 、 Accounting 、 Sample (statistics) 、 Business 、 Compensation (psychology) 、 Managerial accountability 、 Variable (computer science)
摘要: This study explores the relationship between firm performance and business cycles. These cycles are deviations from trend of an economy-wide variable, in our case, GDP. Using a sample Brazilian listed firms accounting measures performance, we find generally positive contemporaneous cycle performance. Results also indicate that different industries show distinct relationships. research presents novel approach by linking several to cycles, indicating managerial effort may be less determinant than what is accepted. Our findings have potential implications for design more efficient compensation packages self-attributed
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