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File name: SSRN-id2154560. ; Size: 203K
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Mandatory Disclosure Reform and Executive Compensation:
Is CFO Pay Higher After the Mandatory Adoption of IFRS?
Steven Balsam
Temple University - Department of Accounting
Elizabeth A. Gordon
Temple University - Fox School of Business and Management
Xi Li
Temple University - Fox School of Business and Management
Emmeli Runesson
Gothenburg University - School of Business, Economics and Law
September 2012
Abstract:
We find that CFOs receive higher compensation following the mandatory adoption of International Financial Reporting Standards (IFRS). We propose two potential explanations: improved monitoring and increased responsibility. Consistent with improved monitoring, we find that the increase is positively associated with the loss of private benefits and is negatively associated with existing shareholder monitoring. Consistent with increased responsibility, we find compensation started to increase after the announcement of adoption and increased further after actual adoption. The fact that these increases in compensation are not found for other non-CEO/CFO executives provides assurance that they are related to IFRS adoption.
Number of Pages in PDF File: 45
Keywords: mandatory adoption, IFRS, executive compensation, international
JEL Classification: M41, K22, J33
working papers series
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Date posted: February 29, 2012
; Last revised: October 1, 2012
Suggested CitationBalsam, Steven, Gordon, Elizabeth A., Li, Xi and Runesson, Emmeli, Mandatory Disclosure Reform and Executive Compensation:
Is CFO Pay Higher After the Mandatory Adoption of IFRS? (September 2012). Available at SSRN: http://ssrn.com/abstract=2013653 or http://dx.doi.org/10.2139/ssrn.2013653
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