Jeffrey L. Coles

University of Utah - Department of Finance

Professor and Endowed Chair of Finance

David Eccles School of Business

Salt Lake City, UT 84112

United States

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

SCHOLARLY PAPERS

42

DOWNLOADS
Rank 1,428

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Top 1,428

in Total Papers Downloads

40,103

TOTAL CITATIONS
Rank 1,479

SSRN RANKINGS

Top 1,479

in Total Papers Citations

870

Scholarly Papers (42)

1.

Calculation of Compensation Incentives and Firm-Related Wealth Using Execucomp: Data, Program, and Explanation

Number of pages: 10 Posted: 27 Jul 2013
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 8,128 (1,722)
Citation 62

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Executive compensation, compensation incentives, pay-performance sensitivity, risk-taking incentives, inside equity, firm-specific wealth

2.

Structural Models and Endogeneity in Corporate Finance: The Link Between Managerial Ownership and Corporate Performance

Journal of Financial Economics (JFE) 103, no. 1 (2012): 149-168
Number of pages: 60 Posted: 18 Jul 2003 Last Revised: 17 Jul 2015
Jeffrey L. Coles, Michael L. Lemmon and Felix Meschke
University of Utah - Department of Finance, University of Utah - Department of Finance and University of Kansas - Finance Area
Downloads 3,777 (6,354)
Citation 65

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Corporate governance, Managerial ownership, Executive compensation, Corporate performance, Structural model, Endogeneity

3.

Executive Compensation and Managerial Risk-Taking

Number of pages: 50 Posted: 02 Jun 2003
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 2,775 (10,344)
Citation 18

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executive compensation, managerial compensation, risk-taking, investment policy, debt policy, incentives

4.

Clawback Provisions

Number of pages: 60 Posted: 19 Mar 2012 Last Revised: 16 Jul 2017
Arizona State University, Tulane University - A.B. Freeman School of Business, Texas Christian University and University of Utah - Department of Finance
Downloads 2,591 (11,570)

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clawback, recoupment, recover, executive compensation, employee pay, accounting restatement, fraud, corporate governance

5.
Downloads 2,195 (15,079)
Citation 171

Boards: Does One Size Fit All?

Number of pages: 62 Posted: 13 Feb 2005
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 2,195 (14,783)
Citation 171

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Corporate governance, board of directors, Tobin's Q, firm value

Boards: Does One Size Fit All?

Journal of Financial Economics (JFE), Forthcoming
Posted: 08 Sep 2006
Naveen D. Daniel, Jeffrey L. Coles and Lalitha Naveen
Drexel University - Department of Finance, University of Utah - Department of Finance and Temple University - Department of Finance

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Corporate governance, directors, board composition, board size, Tobin's Q

6.

On Index Investing

Number of pages: 61 Posted: 20 Oct 2017 Last Revised: 01 Mar 2022
Jeffrey L. Coles, Davidson Heath and Matthew C. Ringgenberg
University of Utah - Department of Finance, University of Utah - David Eccles School of Business and University of Utah - Department of Finance
Downloads 1,915 (18,818)
Citation 56

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active management, arbitrageurs, index investing, limits to arbitrage, market efficiency, passive investing

7.
Downloads 1,884 (19,281)
Citation 10

An Empirical Assessment of Empirical Corporate Finance

Coles, J.L. and Li, Z.F. 2021 forthcoming. An Empirical Assessment of Empirical Corporate Finance. Journal of Financial and Quantitative Analysis forthcoming
Number of pages: 111 Posted: 18 Mar 2011 Last Revised: 06 Jun 2022
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 1,453 (28,193)
Citation 7

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Empirical corporate finance, Corporate governance, Capital structure, Dividend policy, Executive compensation, Delta, Vega, Corporate control, Antitakeover protections, Mergers and acquisitions, Board of directors, Leverage, Cash balances, Investment policy, Firm focus, R&D, Firm performance

An Empirical Assessment of Empirical Corporate Finance

Coles, J.L. and Li, Z.F. 2021 forthcoming. An Empirical Assessment of Empirical Corporate Finance. Journal of Financial and Quantitative Analysis forthcoming.
Number of pages: 66 Posted: 15 Mar 2012 Last Revised: 13 Apr 2022
Zhichuan Frank Li and Jeffrey L. Coles
University of Western Ontario - Ivey School of Business and University of Utah - Department of Finance
Downloads 431 (143,675)
Citation 3

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Empirical corporate finance, Corporate governance, Capital structure, Dividend policy, Executive compensation, Delta, Vega, Corporate control, Antitakeover protections, Mergers and acquisitions, Board of directors, Leverage, Cash balances, Investment policy, Asset composition, Firm focus, R&D

8.

Performance-Vesting Provisions in Executive Compensation

Journal of Accounting & Economics (JAE), Vol. 66, 2018
Number of pages: 66 Posted: 04 Jul 2013 Last Revised: 19 Oct 2018
Arizona State University (ASU) - Finance Department, Texas Christian University, University of Utah - Department of Finance and Texas Christian University - M.J. Neeley School of Business
Downloads 1,814 (20,456)
Citation 109

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Performance-vesting provisions, executive compensation, stock awards, option awards, time-vesting, performance measures, CEO pay, corporate governance

9.

Co-opted Boards

Forthcoming, Review of Financial Studies
Number of pages: 65 Posted: 29 Oct 2010 Last Revised: 22 Apr 2014
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 1,747 (21,681)
Citation 96

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Corporate Governance, Board Co-Option, CEO Entrenchment, Board Composition

10.

The Joint Determinants of Managerial Ownership, Board Independence, and Firm Performance

Second Singapore International Conference on Finance 2008
Number of pages: 45 Posted: 04 Feb 2008 Last Revised: 13 Jul 2008
Jeffrey L. Coles, Michael L. Lemmon and Albert Y. Wang
University of Utah - Department of Finance, University of Utah - Department of Finance and Auburn University - Department of Finance
Downloads 1,158 (39,949)
Citation 21

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Corporate Governance, Board Composition, Managerial Ownership, Structural Model

11.

Stock and Option Grants with Performance-Based Vesting Provisions

AFA 2008 New Orleans Meetings Paper
Number of pages: 57 Posted: 15 Mar 2007 Last Revised: 06 Nov 2018
Arizona State University (ASU) - Finance Department, Texas Christian University, University of Utah - Department of Finance and Texas Christian University - M.J. Neeley School of Business
Downloads 1,149 (40,427)
Citation 23

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Corporate governance, Executive compensation, Stock options, Performance vesting

12.

Director Overlap: Groupthink versus Teamwork

Number of pages: 55 Posted: 13 Aug 2020
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 1,070 (44,786)

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Corporate Governance; Boards; Director Overlap; Group-think; Teamwork; Dynamic Firms; Complex Firms; Director Tenure, Term Limits

13.

The Presence, Value, and Incentive Properties of Relative Performance Evaluation in Executive Compensation Contracts

Number of pages: 80 Posted: 09 Feb 2014
J. Carr Bettis, John M. Bizjak, Jeffrey L. Coles and Brian Young
Arizona State University (ASU) - Finance Department, Texas Christian University, University of Utah - Department of Finance and Wake Forest University
Downloads 1,045 (46,271)
Citation 22

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relative performance awards, performance-vesting provisions, executive compensation, stock awards, option awards, time-vesting, performance measures, CEO pay, corporate governance

14.

What Happens to CEOs After They Retire? New Evidence on Career Concerns, Horizon Problems, and CEO Incentives

Journal of Financial Economics (JFE), Vol. 52, 1999, Simon School of Business Working Paper FR 97-10, SMU Cox School of Business Research Paper
Number of pages: 48 Posted: 23 Jun 1998 Last Revised: 04 Mar 2018
James A. Brickley, Jeffrey L. Coles and James S. Linck
University of Rochester - Simon Business School, University of Utah - Department of Finance and Southern Methodist University (SMU) - Finance Department
Downloads 1,020 (47,888)
Citation 73

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15.
Downloads 961 (52,087)
Citation 14

Clawback Provisions and Firm Risk

Fisher College of Business Working Paper No. 2019-03-013, Charles A. Dice Center Working Paper No. 2019-13
Number of pages: 62 Posted: 03 May 2019
Arizona State University, Tulane University - A.B. Freeman School of Business, Texas Christian University, University of Utah - Department of Finance and University of Utah
Downloads 525 (113,238)
Citation 6

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Clawback, recoupment, recover, executive compensation, employee pay, accounting restatement, fraud, corporate governance

Clawback Provisions and Firm Risk

Number of pages: 65 Posted: 09 Mar 2022 Last Revised: 13 Oct 2022
Arizona State University, Tulane University - A.B. Freeman School of Business, Texas Christian University, University of Utah - Department of Finance and Eller College of Management, University of Arizona
Downloads 436 (141,723)
Citation 8

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Clawback, risk, recoupment, recover, executive compensation, employee pay, accounting restatement, fraud, corporate governance

16.

Director Connections and Board Advising

Number of pages: 56 Posted: 14 Mar 2012 Last Revised: 20 Jan 2021
University of Utah - Department of Finance, Drexel University - Department of Finance, University of Louisville and Temple University - Department of Finance
Downloads 925 (54,891)
Citation 38

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Connected Directors; Advising quality; Board advising; Corporate governance; Firm complexity

17.

Industry Tournament Incentives

Review of Financial Studies, Forthcoming
Number of pages: 61 Posted: 15 Mar 2012 Last Revised: 22 Jun 2017
Jeffrey L. Coles, Zhichuan Frank Li and Albert Y. Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University - Department of Finance
Downloads 736 (74,695)
Citation 41

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Industry tournament incentives, CEO incentives, CEO compensation, Firm performance, Firm risk

18.

A Comparison of Profitability and CEO Turnover Sensitivity in Large Private and Public Firms

Number of pages: 47 Posted: 12 Jun 2003
Jeffrey L. Coles, Michael L. Lemmon and Lalitha Naveen
University of Utah - Department of Finance, University of Utah - Department of Finance and Temple University - Department of Finance
Downloads 705 (78,932)
Citation 11

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19.

Musk's $56 billion: Pay, Incentives, or Rewards?

European Corporate Governance Institute – Finance Working Paper No. 1010/2024, Fox School of Business Research Paper
Number of pages: 42 Posted: 03 Sep 2024
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 640 (89,310)

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G32, G34 Executive Compensation, CEO Pay, CEO Incentives, CEO Rewards, Tesla, Elon Musk, $56 billion

20.

Option Repricing and Incentive Realignment

Number of pages: 47 Posted: 09 Feb 2004
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 556 (106,720)
Citation 8

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Option, repricing, incentive, compensation, vega, delta

21.

Do Model and Benchmark Specification Error Affect Inference in Measuring Mutual Fund Performance?

Number of pages: 66 Posted: 08 Dec 2004
Naveen D. Daniel, Jeffrey L. Coles and Federico Nardari
Drexel University - Department of Finance, University of Utah - Department of Finance and University of Melbourne - Department of Finance
Downloads 538 (111,269)
Citation 2

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Mutual funds, performance evaluation, selectivity, market timing, specification errors

22.

Does the Choice of Model or Benchmark Affect Inference in Measuring Mutual Fund Performance?

EFA 2006 Zurich Meetings
Number of pages: 57 Posted: 16 Mar 2006
Jeffrey L. Coles, Naveen D. Daniel and Federico Nardari
University of Utah - Department of Finance, Drexel University - Department of Finance and University of Melbourne - Department of Finance
Downloads 508 (119,399)
Citation 18

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Mutual Funds Performance, Market Timing, Model Misspecification, Bootstrap

23.

Earnings Management Around Employee Stock Option Reissues

Journal of Accounting & Economics, Forthcoming
Number of pages: 46 Posted: 10 Aug 2005
University of Utah - Department of Finance, Arizona State University (ASU) - Finance Department and Texas Christian University - M.J. Neeley School of Business
Downloads 493 (123,732)
Citation 3

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Capital markets, Stock options, Earnings management, Discretionary accruals, Executive compensation

24.

How Do Firms Respond to Corporate Taxes

Number of pages: 82 Posted: 09 May 2018 Last Revised: 21 Aug 2021
Jeffrey L. Coles, Elena Patel, Nathan Seegert and Matthew Smith
University of Utah - Department of Finance, University of Utah - Department of Finance, University of Utah - Department of Finance and Government of the United States of America - US Department of Treasury
Downloads 411 (153,519)

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Corporate Elasticity of Taxable Income, Private Firm Behavior, Corporate Tax, Investment, Tax Reporting

25.

Survey of Boards’ Monitoring and Advisory Roles

Number of pages: 41 Posted: 24 Jul 2023
Jeffrey L. Coles, Naveen D. Daniel and Lalitha Naveen
University of Utah - Department of Finance, Drexel University - Department of Finance and Temple University - Department of Finance
Downloads 336 (191,853)
Citation 2

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Board Monitoring, Board Advising, Corporate Governance, Board Structure, Board Connections, Director Characteristics

26.

A Model of Industry Tournament Incentives

Number of pages: 19 Posted: 25 Feb 2020
Jeffrey L. Coles, Zhichuan Frank Li and Albert Y. Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University - Department of Finance
Downloads 283 (230,423)
Citation 3

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tournament incentives, firm performance, risk, and policy; industry tournament incentives, managerial incentives, managerial labor markets, internal labor markets and promotion

27.

Power of Tournament Incentives: Evidence from Japanese Corporate Boards

Asian Finance Association (AsianFA) 2018 Conference
Number of pages: 57 Posted: 11 Jan 2018
Jeffrey L. Coles and Konari Uchida
University of Utah - Department of Finance and Kyushu University - Faculty of Economics
Downloads 269 (242,777)
Citation 1

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Corporate board, Tournament, Inside director, Management turnover

28.

Proposed Brief of Current and Retired Practitioners and Professors as Amici Curiae in Support of Reversal in In re Tesla, Inc. Derivative Litigation

Number of pages: 33 Posted: 15 Apr 2025
Troutman Sanders LLP, affiliation not provided to SSRN, affiliation not provided to SSRN, affiliation not provided to SSRN, University of Arkansas, Fayetteville - School of Law, University of California, Los Angeles (UCLA) - School of Law, University of Utah - Department of Finance, Hofstra University - Maurice A. Deane School of Law, University of Nevada, William S. Boyd School of Law, The University of Mississippi School of Law, New York University School of Law, University of North Carolina School of Law, Fordham University School of Law, University of Chicago - Law School, Texas Christian University - M.J. Neeley School of Business, University of Chicago - Booth School of Business, Drake University - Law School, Yale Law School, Graduate School of Business, Stanford University, University of Iowa College of Law, University of Wyoming College of Law, University of New Hampshire Franklin Pierce School of Law, Adolf A. Berle, Jr. Center on Corporations, Law and Society, Seattle University School of Law, St. John's University School of Law, Yale School of Management, affiliation not provided to SSRN and Cornell Law School
Downloads 141 (438,635)

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29.

Personal Taxes and Unrelated Mergers and Acquisitions

Number of pages: 70 Posted: 12 Apr 2024 Last Revised: 25 Feb 2025
Jeffrey L. Coles, Jason Sandvik, Nathan Seegert and Aazam Virani
University of Utah - Department of Finance, Eller College of Management, University of Arizona, University of Utah - Department of Finance and University of Arizona - Department of Finance
Downloads 137 (448,875)

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Mergers and Acquisitions, Business Taxation, Payout Policy

30.

CEO Risk Exposure Distorts Investment Decisions

Number of pages: 37 Posted: 29 Nov 2023
Jeffrey L. Coles, Jason Sandvik and Nathan Seegert
University of Utah - Department of Finance, Eller College of Management, University of Arizona and University of Utah - Department of Finance
Downloads 93 (598,190)

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Mergers and Acquisitions, Business Taxation

31.

Online Appendix of 'An Empirical Assessment of Empirical Corporate Finance' (Coles and Li, JFQA 2022)

JFQA, Forthcoming
Number of pages: 78 Posted: 26 Apr 2022
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 90 (610,372)

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Empirical Corporate Finance, Corporate Governance, Leverage, Cash, Delta, Vega, Tobin's Q, ROA, M&A

32.

Compensation Peer Choice and Managerial Capital

Number of pages: 63 Posted: 25 Mar 2025
Daruo Xie, Jeffrey L. Coles and Fangfang Du
Australian National University (ANU), University of Utah - Department of Finance and California State University, Fullerton
Downloads 13 (1,229,846)

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executive compensation, Managerial capital, Benchmarking, Peer group

33.

How Do Firms Respond to Corporate Taxes?

Journal of Accounting Research, Volume 60, Issue 3, 2022
Posted: 11 Oct 2022
Jeffrey L. Coles, Elena Patel, Nathan Seegert and Matthew Smith
University of Utah - Department of Finance, University of Utah - Department of Finance, University of Utah - Department of Finance and U.S. Department of the Treasury, Office of Tax Analysis (OTA)

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corporate elasticity of taxable income, private firm behavior, corporate tax, investment, tax reporting

34.

How Executive Compensation Changes In Response to Personal Income Tax Shocks (Who Pays the CEO’s Income Taxes?)

Posted: 19 Mar 2020 Last Revised: 04 Aug 2021
Benjamin Bennett, Jeffrey L. Coles and Zexi Wang
Tulane University - A.B. Freeman School of Business, University of Utah - Department of Finance and Lancaster University

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Executive compensation, Personal income tax, CEO incentives, CEO equity sales

35.

Managerial Incentives and Risk-Taking

Posted: 01 Mar 2005
Naveen D. Daniel, Jeffrey L. Coles and Lalitha Naveen
Drexel University - Department of Finance, University of Utah - Department of Finance and Temple University - Department of Finance

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executive compensation, managerial incentives, risk-taking, investment policy, debt policy

36.

New Evidence on the Market for Directors: Board Membership and Pennsylvania Senate Bill 1310

Posted: 20 May 2002
Jeffrey L. Coles and Chun Keung (Stan) Hoi
University of Utah - Department of Finance and Rochester Institute of Technology (RIT) - Department of Accounting and Finance

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Corporate Governance, State Anti-takeover Laws, Labor Market, Board of Directors

37.

Corporate Leadership Structure: On the Separation of the Positions of CEO and Chairman of the Board

Posted: 06 Aug 1999
James A. Brickley, Jeffrey L. Coles and Gregg A. Jarrell
University of Rochester - Simon Business School, University of Utah - Department of Finance and University of Rochester - Simon School

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38.

Generalized Qualitative Response Models and the Prediction of Bankruptcy

Posted: 20 Dec 1998
Jeffrey L. Coles, Michael L. Lemmon and José R. Suay
University of Utah - Department of Finance, University of Utah - Department of Finance and affiliation not provided to SSRN

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39.

On Equilibrium Pricing Under Parameter Uncertainty

J. OF FINANCIAL AND QUANTITATIVE ANALYSIS, September 1995
Posted: 09 Jul 1998
Jeffrey L. Coles, Uri Loewenstein and José R. Suay
University of Utah - Department of Finance, University of Utah - Department of Finance and affiliation not provided to SSRN

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40.

Corporate Policies Restricting Trading by Insiders

Posted: 17 Apr 1998
J. Carr Bettis, Michael L. Lemmon and Jeffrey L. Coles
Arizona State University (ASU) - Finance Department, University of Utah - Department of Finance and University of Utah - Department of Finance

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41.

The Shareholder Wealth Implications of Corporate Lawsuits

Posted: 24 Feb 1997
Sanjai Bhagat, John M. Bizjak and Jeffrey L. Coles
University of Colorado at Boulder - Department of Finance, Texas Christian University and University of Utah - Department of Finance

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42.

The Board of Directors and the Adoption of Poison Pills

Posted: 22 May 1995
James A. Brickley, Jeffrey L. Coles and Rory L. Terry
University of Rochester - Simon Business School, University of Utah - Department of Finance and Fort Hays State University

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Other Papers (1)

Total Downloads: 1,384
1.

Managerial Attributes, Incentives, and Performance

Jeffrey L Coles, Zhichuan (Frank) Li, Managerial Attributes, Incentives, and Performance, The Review of Corporate Finance Studies, Volume 9, Issue 2, August 2020, Pages 256–301,
Number of pages: 66 Posted: 22 Sep 2010 Last Revised: 09 Dec 2020
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 1,384 (19,817)

Abstract:

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Executive compensation, Managerial incentives, Managerial ability, Human capital, Risk aversion, Investment policy, Financing policy, Firm fixed effects, Manager fixed effects, Delta, Vega