Chris Armstrong

Stanford Graduate School of Business

Joan E. Horngren Professor of Accounting

655 Knight Way

E316

Stanford, CA 94305-5015

United States

http://https://www.gsb.stanford.edu/faculty-research/faculty/christopher-s-armstrong

  • Stanford Graduate School of Business

SCHOLARLY PAPERS

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Scholarly Papers (44)

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1.

Market Reaction to the Adoption of IFRS in Europe

Downloads 9,995 ( 746)
Citation 166

Market Reaction to the Adoption of IFRS in Europe

Accounting Review, Forthcoming
Number of pages: 52 Posted: 19 May 2006 Last Revised: 04 Apr 2012
Chris Armstrong, Mary E. Barth, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and Eddie Riedl
Stanford Graduate School of Business, Stanford University - Graduate School of Business, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Boston University - Questrom School of Business
Downloads 8,189 (1,045)
Citation 22

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IFRS, IAS 39, Convergence, Europe

Market Reaction to the Adoption of IFRS in Europe

Accounting Review, Forthcoming, Harvard Business School Finance Working Paper No. 09-032, Rock Center for Corporate Governance at Stanford University Working Paper No. 5
Number of pages: 52 Posted: 10 Sep 2008 Last Revised: 04 Apr 2012
Chris Armstrong, Mary E. Barth, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and Eddie Riedl
Stanford Graduate School of Business, Stanford University - Graduate School of Business, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Boston University - Questrom School of Business
Downloads 1,806 (13,107)
Citation 18

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IFRS, IAS 39, Convergence, Europe

2.

Corporate Governance, Incentives, and Tax Avoidance

Journal of Accounting and Economics 60 (August 2015): 1–17., Rock Center for Corporate Governance at Stanford University Working Paper No. 136
Number of pages: 43 Posted: 18 Apr 2013 Last Revised: 17 Jul 2015
Chris Armstrong, Jennifer Blouin, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and David F. Larcker
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Stanford University - Graduate School of Business
Downloads 3,690 (4,115)
Citation 76

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Tax aggressiveness, FIN 48, tax avoidance, CEO incentives, corporate governance

3.

The Incentives for Tax Planning

Journal of Accounting and Economics, Volume 53, Issues 1–2, (Feb–April 2012): 391-411. , Rock Center for Corporate Governance at Stanford University Working Paper No. 56, Stanford Graduate School of Business Research Paper No. 2032
Number of pages: 53 Posted: 10 Jun 2009 Last Revised: 06 Nov 2012
Chris Armstrong, Jennifer Blouin and David F. Larcker
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and Stanford University - Graduate School of Business
Downloads 3,684 (4,130)
Citation 40

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tax director incentives, effective tax rate, book-tax difference

4.

The Role of Information and Financial Reporting in Corporate Governance and Debt Contracting

Number of pages: 174 Posted: 21 Mar 2010 Last Revised: 16 Nov 2011
Chris Armstrong, Wayne R. Guay and Joseph Weber
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,902 (6,241)
Citation 165

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financial accounting, corporate governance, board structure, contracting, executive compensation, debt contracts, informal contracts

5.

When Does Information Asymmetry Affect the Cost of Capital?

Journal of Accounting Research, Forthcoming
Number of pages: 56 Posted: 25 Oct 2010 Last Revised: 09 Mar 2015
Chris Armstrong, John E. Core, Daniel J. Taylor and Robert E. Verrecchia
Stanford Graduate School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 1,927 (12,018)
Citation 10

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information asymmetry, cost of capital, market competition, expected returns

6.

The Role of Information and Financial Reporting in Corporate Governance: A Review of the Evidence and the Implications for Banking Firms and the Financial Services Industry

Economic Policy Review, Forthcoming
Number of pages: 52 Posted: 02 Jun 2015
Chris Armstrong, Wayne R. Guay, Hamid Mehran and Joseph Weber
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department, Independent and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,894 (12,359)
Citation 2

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financial accounting; corporate governance; board structure; contracting; executive compensation; informal contracts; financial institutions; information asymmetry; corporate transparency

7.

Chief Executive Officer Equity Incentives and Accounting Irregularities

Rock Center for Corporate Governance at Stanford University Working Paper No. 4, Journal of Accounting Research, Chicago, Vol. 48, No. 2, p. 225, May 2010
Number of pages: 69 Posted: 12 May 2008 Last Revised: 04 Apr 2012
Chris Armstrong, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and David F. Larcker
Stanford Graduate School of Business, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Stanford University - Graduate School of Business
Downloads 1,814 (13,245)
Citation 43

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equity incentives, accounting restatements, propensity score matching

8.

Abnormal Accruals in Newly Public Companies: Opportunistic Misreporting or Economic Activity?

Management Science, Forthcoming
Number of pages: 48 Posted: 18 Jun 2008 Last Revised: 06 Feb 2015
Chris Armstrong, George Foster and Daniel J. Taylor
Stanford Graduate School of Business, Stanford Graduate School of Business and The Wharton School, University of Pennsylvania
Downloads 1,808 (13,312)
Citation 32

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Misreporting; Earnings Management; Financial Reporting Quality; Accruals; Incentives; Insider Trading; Initial Public Offering; New Issues Puzzle; Investment

9.

The Role of Financial Reporting and Transparency in Corporate Governance

Economic Policy Review, Issue Aug, pp. 107-128, 2016
Number of pages: 22 Posted: 23 Aug 2016 Last Revised: 16 Dec 2017
Chris Armstrong, Wayne R. Guay, Hamid Mehran and Joseph Weber
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department, Independent and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,773 (13,751)
Citation 1

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financial accounting, corporate governance, board structure, contracting, executive compensation, informal contracts, financial institutions, information asymmetry, corporate transparency

10.

Economic Characteristics, Corporate Governance, and the Influence of Compensation Consultants on Executive Pay Levels

Rock Center for Corporate Governance Working Paper No. 15, Review of Accounting Studies, Vol. 17, No. 2, June 2012
Number of pages: 62 Posted: 15 Jun 2008 Last Revised: 12 Sep 2013
Chris Armstrong, Christopher D. Ittner and David F. Larcker
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and Stanford University - Graduate School of Business
Downloads 1,658 (15,275)
Citation 24

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corporate governance, executive compensation, compensation consultants

11.

Factor-Loading Uncertainty and Expected Returns

AFA 2010 Atlanta Meetings Paper
Number of pages: 52 Posted: 12 Nov 2008 Last Revised: 13 Sep 2012
Chris Armstrong, Snehal Banerjee and Carlos Corona
Stanford Graduate School of Business, University of California, San Diego (UCSD) - Rady School of Management and Ohio State University (OSU) - Department of Accounting & Management Information Systems
Downloads 1,415 (19,373)
Citation 7

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Expected Return, Information Quality, Uncertainty, Stochastic volatility

12.

The Relation between Equity Incentives and Misreporting: The Role of Risk-Taking Incentives

Journal of Financial Economics (JFE), 109 (August 2013): 327-350., Rock Center for Corporate Governance at Stanford University Working Paper No. 126, Stanford Graduate School of Business Research Paper No. 2120
Number of pages: 61 Posted: 21 Oct 2012 Last Revised: 08 Jun 2013
Chris Armstrong, David F. Larcker, Gaizka Ormazabal and Daniel J. Taylor
Stanford Graduate School of Business, Stanford University - Graduate School of Business, University of Navarra, IESE Business School and The Wharton School, University of Pennsylvania
Downloads 1,284 (22,422)
Citation 67

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Equity Incentives, Executive Compensation, Misreporting, Earnings Management, Restatements, SEC Enforcement Actions

13.

Causality Redux: The Evolution of Empirical Methods in Accounting Research and the Growth of Quasi-Experiments

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 132 Posted: 18 Nov 2021 Last Revised: 07 Jul 2022
Chris Armstrong, John D. Kepler, Delphine Samuels and Daniel J. Taylor
Stanford Graduate School of Business, Stanford Graduate School of Business, University of Chicago -- Booth School of Business and The Wharton School, University of Pennsylvania
Downloads 1,258 (23,163)

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14.

Executive Stock Options, Differential Risk-Taking Incentives, and Firm Value

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 53 Posted: 21 Dec 2009 Last Revised: 04 Apr 2012
Chris Armstrong and Rahul Vashishtha
Stanford Graduate School of Business and Duke University
Downloads 1,192 (25,046)
Citation 17

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Equity Incentives, Stock Options, Firm Value, Systematic and Idiosyncratic Risk, Risk-Taking Incentives, Executive Compensation

15.

Strategic Reactions in Corporate Tax Planning

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 64 Posted: 23 Dec 2016 Last Revised: 19 Apr 2019
Chris Armstrong, Stephen Glaeser and John D. Kepler
Stanford Graduate School of Business, University of North Carolina (UNC) at Chapel Hill - Accounting Area and Stanford Graduate School of Business
Downloads 1,137 (26,803)
Citation 14

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Corporate Income Tax; Tax Planning; Industry Competition; Strategic Interaction; Tax Havens; Difference-In-Differences; Partially-Overlapping Groups; Reflection Problem

16.

Venture-Backed Private Equity Valuation and Financial Statement Information

Review of Accounting Studies, Forthcoming
Number of pages: 51 Posted: 24 Aug 2005
Chris Armstrong, Tony Davila and George Foster
Stanford Graduate School of Business, University of Navarra - IESE Business School and Stanford Graduate School of Business
Downloads 1,102 (28,084)
Citation 7

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Venture-capital, valuation, value relevance, accounting

17.

Timing of Employee Stock Option Exercises and the Cost of Stock Option Grants

Rock Center for Corporate Governance Working Paper No. 34
Number of pages: 49 Posted: 01 Jun 2006 Last Revised: 04 Apr 2012
Chris Armstrong, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and David F. Larcker
Stanford Graduate School of Business, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Stanford University - Graduate School of Business
Downloads 1,026 (31,086)
Citation 21

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Option expense, employee option exercise, SFAS 123, stock option cost, survival analysis

18.

Do Independent Directors Cause Improvements in Firm Transparency?

Number of pages: 54 Posted: 01 Apr 2012 Last Revised: 27 Aug 2013
Chris Armstrong, John E. Core and Wayne R. Guay
Stanford Graduate School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Accounting Department
Downloads 965 (33,870)
Citation 35

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19.

Earnings per Share Goals and CEO Incentives

Simon Business School Working Paper No. FR 17-09
Number of pages: 61 Posted: 18 Feb 2017 Last Revised: 02 Feb 2022
Chris Armstrong, Jacky Chau, Christopher D. Ittner and Jason J. Xiao
Stanford Graduate School of Business, The Chinese University of Hong Kong (CUHK) - CUHK Business School, University of Pennsylvania - Accounting Department and University of Rochester - Simon Business School
Downloads 897 (37,579)

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Earnings per share (EPS); earnings targets; CEO incentives; bonus contracts; analysts' forecasts; meet or beat

20.

Corporate Governance and the Information Environment: Evidence from State Antitakeover Laws

Journal of Accounting & Economics (JAE), Forthcoming.
Number of pages: 51 Posted: 10 Mar 2010 Last Revised: 15 Nov 2011
Chris Armstrong, Karthik Balakrishnan and Daniel A. Cohen
Stanford Graduate School of Business, Rice University - Jesse H. Jones Graduate School of Business and Vanderbilt University - Owen Graduate School of Management
Downloads 842 (41,004)
Citation 21

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antitakeover laws, corporate governance, financial reporting quality, information asymmetry

21.

Stock Options and Chief Executive Officer Compensation

Operations Research, Vol. 58, No. 4, Part 2 of 2, July–August 2010, pp. 1090–1106, Rock Center for Corporate Governance Working Paper No. 27
Number of pages: 48 Posted: 21 May 2007 Last Revised: 06 Nov 2012
Chris Armstrong, David F. Larcker and Che-Lin Su
Stanford Graduate School of Business, Stanford University - Graduate School of Business and University of Chicago - Booth School of Business
Downloads 804 (43,646)
Citation 10

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Stock Options, Incentives, Agency Model

22.

Accounting Quality and the Transmission of Monetary Policy

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 73 Posted: 16 Mar 2017 Last Revised: 19 Nov 2020
Chris Armstrong, Stephen Glaeser and John D. Kepler
Stanford Graduate School of Business, University of North Carolina (UNC) at Chapel Hill - Accounting Area and Stanford Graduate School of Business
Downloads 795 (44,288)
Citation 3

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monetary policy, federal funds rate, balance sheet channel, accounting quality, financial reporting, information asymmetry, agency conflicts, event study, financial intermediation

23.

Why Do CEOs Hold So Much Equity?

Number of pages: 46 Posted: 04 Jan 2015 Last Revised: 25 Jul 2015
Chris Armstrong, John E. Core and Wayne R. Guay
Stanford Graduate School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Accounting Department
Downloads 766 (46,520)

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executive compensation, CEO equity incentives, corporate governance

24.

The Economics of Managerial Taxes and Corporate Risk-Taking

The Accounting Review, Forthcoming, Singapore Management University School of Accountancy Research Paper Series Vol. 6, No. 3 Paper No 2018-87
Number of pages: 68 Posted: 24 Oct 2017 Last Revised: 12 Nov 2019
Chris Armstrong, Stephen Glaeser, Sterling Huang and Daniel J. Taylor
Stanford Graduate School of Business, University of North Carolina (UNC) at Chapel Hill - Accounting Area, Singapore Management University - School of Accountancy and The Wharton School, University of Pennsylvania
Downloads 757 (47,280)
Citation 12

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Corporate risk-taking; risky investment; risk-taking incentives; personal income taxes; federal income taxes; state income taxes; agency conflict

25.

Performance-Based Incentives for Internal Monitors

Rock Center for Corporate Governance at Stanford University Working Paper Series No. 76 , Stanford University Graduate School of Business Research Paper No. 2052
Number of pages: 42 Posted: 16 Feb 2010 Last Revised: 04 Apr 2012
Chris Armstrong, Alan D. Jagolinzer, Alan D. Jagolinzer, Alan D. Jagolinzer and David F. Larcker
Stanford Graduate School of Business, Stanford University - Graduate School of BusinessUniversity of Colorado - Leeds School of BusinessUniversity of Cambridge Judge Business School and Stanford University - Graduate School of Business
Downloads 721 (50,416)
Citation 15

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performance-based incentives, internal monitors, general counsel, accounting irregularities

26.

The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans

Downloads 653 ( 57,374)
Citation 23

The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans

Journal of Accounting Research, Vol. 51, Issue 5, pages 909-950, December 2013, Rock Center for Corporate Governance at Stanford University Working Paper No. 112, Stanford University Graduate School of Business Research Paper No. 2997
Number of pages: 50 Posted: 14 Mar 2012 Last Revised: 26 Oct 2013
Chris Armstrong, Ian D. Gow and David F. Larcker
Stanford Graduate School of Business, University of Melbourne and Stanford University - Graduate School of Business
Downloads 653 (56,637)
Citation 24

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executive compensation, equity-based compensation, shareholder voting

The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans

Stanford University Graduate School of Business Research Paper No. 13-14, Journal of Accounting Research, Vol. 51, No. 5, 2013
Posted: 28 Nov 2013
Chris Armstrong, Ian D. Gow and David F. Larcker
Stanford Graduate School of Business, University of Melbourne and Stanford University - Graduate School of Business

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executive compensation, equity-based compensation, shareholder voting

27.

Contracting with Controllable Risk

The Accounting Review, Forthcoming, Singapore Management University School of Accountancy Research Paper No. 2017-55
Number of pages: 73 Posted: 11 Jan 2017 Last Revised: 01 Oct 2021
Chris Armstrong, Stephen Glaeser and Sterling Huang
Stanford Graduate School of Business, University of North Carolina (UNC) at Chapel Hill - Accounting Area and Singapore Management University - School of Accountancy
Downloads 651 (57,608)
Citation 4

Abstract:

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executive compensation; contract design; equity incentives; risk-taking incentives; stock options; derivatives; hedging; natural experiment; risk management

28.

The Screening Role of Covenant Heterogeneity

Number of pages: 70 Posted: 30 Oct 2015 Last Revised: 01 May 2020
Chris Armstrong, Carlo Maria Gallimberti and David Tsui
Stanford Graduate School of Business, Boston College and University of Southern California - Marshall School of Business
Downloads 509 (78,560)

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risk-taking incentives; debt contracting; debt covenants; covenant violations; agency conflicts; risk shifting; moral hazard; adverse selection; screening; credit spreads

29.

Supply Constraints and Directors’ Reputational Incentives

Number of pages: 47 Posted: 26 Jun 2017 Last Revised: 02 Jul 2021
Chris Armstrong, John D. Kepler, Shawn Shi and David Tsui
Stanford Graduate School of Business, Stanford Graduate School of Business, University of Washington - Michael G. Foster School of Business and University of Southern California - Marshall School of Business
Downloads 475 (85,389)
Citation 1

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Board of directors; director incentives; career concerns; director labor market; principal-agent; corporate governance

30.

Endogenous Selection and Moral Hazard in Executive Compensation Contracts

Operation Research Part-2, Vol. 58, No. 4, pp. 1090-1106, July-August 2010, Rock Center for Corporate Governance at Stanford University Working Paper No. 73
Number of pages: 46 Posted: 17 Feb 2010 Last Revised: 04 Apr 2012
Chris Armstrong, David F. Larcker and Che-Lin Su
Stanford Graduate School of Business, Stanford University - Graduate School of Business and University of Chicago - Booth School of Business
Downloads 431 (95,755)

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Generalized Principal Agent Model, Adverse Selection, Moral Hazard, Executive Compensation, Mathematical Programs with Equilibrium Constraints

31.

Executive Compensation Contracts in the Presence of Adverse Selection

Number of pages: 50 Posted: 17 Mar 2021 Last Revised: 03 Jun 2022
Chris Armstrong, Luzi Hail and Rachel Xi Zhang
Stanford Graduate School of Business, University of Pennsylvania - The Wharton School and NUS Business School
Downloads 379 (111,012)

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executive compensation, CEO turnover, contract design, adverse selection, equity incentives, SFAS 123R

32.

Asymmetric Reporting

Journal of Financial Reporting, Forthcoming
Number of pages: 45 Posted: 11 Mar 2015 Last Revised: 05 Sep 2015
Chris Armstrong, Daniel J. Taylor and Robert E. Verrecchia
Stanford Graduate School of Business, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 373 (112,939)
Citation 7

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asymmetric reporting; reporting precision; the CAPM; Beta; systematic risk; cost of capital

33.

Intellectual Property Rights, Holdup, and the Incentives for Innovation Disclosure

Number of pages: 41 Posted: 07 Jan 2021
Chris Armstrong, Stephen Glaeser and Stella Y. Park
Stanford Graduate School of Business, University of North Carolina (UNC) at Chapel Hill - Accounting Area and University of Pennsylvania - The Wharton School
Downloads 331 (128,861)
Citation 2

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corporate innovation, disclosure, holdup

34.

Creditor Control Rights and Executive Bonus Plans

Number of pages: 53 Posted: 19 Jan 2022 Last Revised: 08 Aug 2022
Chris Armstrong, John D. Kepler, Chongho Kim and David Tsui
Stanford Graduate School of Business, Stanford Graduate School of Business, New York University and University of Southern California - Marshall School of Business
Downloads 316 (135,208)

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bonus plans, control rights, creditors, executive compensation, managerial incentives

35.

U.S. Public and Private Venture Capital Markets, 1998-2001: A Fundamental Information Analysis

IESE Business School Working Paper No. 599
Number of pages: 57 Posted: 16 Jan 2006
Chris Armstrong, Tony Davila, George Foster and John R. M. Hand
Stanford Graduate School of Business, University of Navarra - IESE Business School, Stanford Graduate School of Business and University of North Carolina Kenan-Flagler Business School
Downloads 292 (146,914)
Citation 2

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capital markets, stock prices, internet stocks, stock market bubble

36.

Unemployment Risk and Debt Contract Design

Number of pages: 54 Posted: 05 Dec 2018
Chris Armstrong, Daniel A. Cohen, Nir Yehuda and Xiaolu Zhou
Stanford Graduate School of Business, Vanderbilt University - Owen Graduate School of Management, University of Delaware - Accounting & MIS and University of Texas at Dallas
Downloads 261 (164,593)

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Unemployment, Debt Contract Design

37.

Market-to-Revenue Multiples in Public and Private Capital Markets

Downloads 240 (178,612)
Citation 4

Market-to-Revenue Multiples in Public and Private Capital Markets

Number of pages: 57 Posted: 30 Mar 2011
Chris Armstrong, Tony Davila, George Foster and John R. M. Hand
Stanford Graduate School of Business, University of Navarra - IESE Business School, Stanford Graduate School of Business and University of North Carolina Kenan-Flagler Business School
Downloads 181 (231,385)
Citation 4

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Market-to-Revenue Multiple, Price-to-Sales Ratio, Public Companies, Private Companies, Venture Capital, Internet Companies, Transitory Revenue

Market-to-Revenue Multiples in Public and Private Capital Markets

Australian Journal of Management, Vol. 36, No. 1, pp. 15-57, 2011
Number of pages: 44 Posted: 05 May 2011
Chris Armstrong, Tony Davila, George Foster and John R. M. Hand
Stanford Graduate School of Business, University of Navarra - IESE Business School, Stanford Graduate School of Business and University of North Carolina Kenan-Flagler Business School
Downloads 59 (495,293)

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internet companies, market-to-revenue multiple, price/sales ratio, private companies, public companies, transitory revenue, venture capital

38.

Rank-and-File Accounting Employee Incentives and Financial Reporting Quality

Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming, Stanford University Graduate School of Business Research Paper
Number of pages: 60 Posted: 10 May 2022
Chris Armstrong, John D. Kepler, David F. Larcker and Shawn Shi
Stanford Graduate School of Business, Stanford Graduate School of Business, Stanford University - Graduate School of Business and University of Washington - Michael G. Foster School of Business
Downloads 232 (184,419)

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Managerial incentives for the accounting function, financial misreporting, accounting quality

39.

The Incentives of Equity-Based Compensation and Wealth

Number of pages: 66 Posted: 18 Jun 2008
Chris Armstrong
Stanford Graduate School of Business
Downloads 218 (195,720)
Citation 4

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Equity Incentives, Executive Compensation, Stock Options, Random Utility Model, Simulated Maximum Likelihood

40.

Executive stock options and systemic risk

Downloads 214 (199,033)

Executive stock options and systemic risk

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 48 Posted: 01 May 2020 Last Revised: 16 Oct 2021
Chris Armstrong, Allison Nicoletti and Frank Zhou
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 214 (198,792)

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Executive compensation; Equity incentives; Systemic risk; Business cycles

Executive stock options and systemic risk

Journal of Financial Economics (JFE), Forthcoming
Posted: 18 Oct 2021
Chris Armstrong, Allison Nicoletti and Frank Zhou
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School

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Executive compensation; Equity incentives; Systemic risk; Business cycles

41.

Theory, Research Design Assumptions, and Causal Inferences

Journal of Accounting & Economics (JAE), Vol. 66, No. 2-3, 2018
Number of pages: 23 Posted: 02 Jul 2019
Chris Armstrong and John D. Kepler
Stanford Graduate School of Business and Stanford Graduate School of Business
Downloads 214 (199,033)
Citation 2

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Causal inference; quasi-natural experiments; disclosure theory

42.

Are CEOs’ Purchases More Profitable Than They Appear?

Number of pages: 58 Posted: 09 Oct 2020
Chris Armstrong, Terrence Blackburne and Phillip J. Quinn
Stanford Graduate School of Business, Oregon State University and University of Washington Foster School of Business
Downloads 160 (256,732)
Citation 3

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Insider Trading, Private Information, CEO Turnover, Incentive Contracting, Signalling

43.

Financial Information and Diverging Beliefs

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 43 Posted: 19 Mar 2021 Last Revised: 09 May 2022
Chris Armstrong, Mirko Stanislav Heinle and Irina Maxime Luneva
Stanford Graduate School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 148 (273,450)

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Divergence of beliefs, signal-presicion, trading volume, uncertainty, disclosure

44.

Managerial and Corporate Taxes and Debt Contract Design

Number of pages: 58 Posted: 18 Nov 2021
Chris Armstrong, Youngki Jang and Nir Yehuda
Stanford Graduate School of Business, University of Nebraska at Omaha and University of Delaware - Accounting & MIS
Downloads 103 (356,063)

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Managerial Taxes, Corporate Taxes, Debt-Contract Design