Executive Equity Risk-Taking Incentives and Audit Pricing
作者： Yangyang Chen , Ferdinand A. Gul , Madhu Veeraraghavan , Leon Zolotoy
DOI: 10.2308/ACCR-51046
关键词:
摘要: ABSTRACT: Using a large sample of U.S. firms spanning the period 2000–2010, we document strong positive association between sensitivity CEO compensation portfolio to stock return volatility (vega) and audit fees. We also show that vega fees is weaker in post-Sarbanes-Oxley Act (SOX) period. In supplementary tests, relation stronger for with older CEOs where chairman board. Collectively, our results suggest incorporate executive risk-taking incentives they charge their services. JEL Classifications: M41; M42; M52.
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