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

  • University of Utah - Department of Finance

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    • Tel: 801-587-9093
SCHOLARLY PAPERS

34

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Scholarly Papers (34)

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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 5,336 (1,620)
Citation 60

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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 3,495 (3,381)
Citation 64

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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 2,418 (6,326)
Citation 18

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

4.

Boards: Does One Size Fit All?

Downloads 1,809 ( 10,243)

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 1,809 (10,036)
Citation 156

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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

5.

Clawback Provisions

Number of pages: 60 Posted: 19 Mar 2012 Last Revised: 16 Jul 2017
Ilona Babenko, Benjamin Bennett, John M. Bizjak and Jeffrey L. Coles
Arizona State University, Tulane University - A.B. Freeman School of Business, Texas Christian University and University of Utah - Department of Finance
Downloads 1,660 (11,766)
Citation 16

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

6.

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
J. Carr Bettis, John M. Bizjak, Jeffrey L. Coles and Swaminathan L. Kalpathy
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 1,464 (14,315)
Citation 53

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

7.

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 1,292 (17,352)
Citation 90

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

8.

An Empirical Assessment of Empirical Corporate Finance

Downloads 1,244 ( 18,373)
Citation 5

An Empirical Assessment of Empirical Corporate Finance

Number of pages: 111 Posted: 18 Mar 2011 Last Revised: 09 Jun 2019
Jeffrey L. Coles and Zhichuan Frank Li
University of Utah - Department of Finance and University of Western Ontario - Ivey School of Business
Downloads 993 (25,272)
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

Number of pages: 111 Posted: 15 Mar 2012 Last Revised: 09 Dec 2016
Zhichuan Frank Li and Jeffrey L. Coles
University of Western Ontario - Ivey School of Business and University of Utah - Department of Finance
Downloads 251 (139,646)
Citation 1

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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

9.

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
J. Carr Bettis, John M. Bizjak, Jeffrey L. Coles and Swaminathan L. Kalpathy
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 1,014 (24,935)
Citation 18

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Corporate governance, Executive compensation, Stock options, Performance vesting

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 Yan Albert Wang
University of Utah - Department of Finance, University of Utah - Department of Finance and Auburn University
Downloads 980 (26,198)
Citation 8

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Corporate Governance, Board Composition, Managerial Ownership, Structural Model

11.

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 942 (27,661)
Citation 44

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12.

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 794 (35,160)
Citation 20

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

13.

Board Advising

Number of pages: 41 Posted: 14 Mar 2012 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 699 (41,818)
Citation 30

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board advising, advising quality, directors, board characteristics, Corporate Governance, firm complexity

14.

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 Yan Albert Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University
Downloads 652 (45,966)
Citation 15

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

15.

On Index Investing

Number of pages: 53 Posted: 20 Oct 2017 Last Revised: 28 Aug 2020
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 617 (49,392)
Citation 5

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

16.

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 594 (51,928)
Citation 11

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17.

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 490 (66,020)
Citation 8

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Option, repricing, incentive, compensation, vega, delta

18.

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 484 (67,036)
Citation 1

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

19.

Earnings Management Around Employee Stock Option Reissues

Journal of Accounting & Economics, Forthcoming
Number of pages: 46 Posted: 10 Aug 2005
Jeffrey L. Coles, Michael G. Hertzel and Swaminathan L. Kalpathy
University of Utah - Department of Finance, Arizona State University (ASU) - Finance Department and Texas Christian University - M.J. Neeley School of Business
Downloads 460 (71,418)
Citation 2

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

20.

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 422 (79,237)
Citation 14

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Mutual Funds Performance, Market Timing, Model Misspecification, Bootstrap

21.

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
Ilona Babenko, Benjamin Bennett, John M. Bizjak, Jeffrey L. Coles and Jason Sandvik
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 192 (180,743)
Citation 1

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

22.

How Do Firms Respond to Corporate Taxes

Number of pages: 76 Posted: 09 May 2018 Last Revised: 17 Oct 2020
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 188 (184,268)

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Private Firm Behavior, Corporate Tax, Investment, Tax Reporting

23.

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 174 (197,135)
Citation 1

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

24.

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 96 (310,025)

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Corporate board, Tournament, Inside director, Management turnover

25.

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

Number of pages: 59 Posted: 19 Mar 2020 Last Revised: 28 Sep 2020
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
Downloads 81 (346,986)

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

26.

A Model of Industry Tournament Incentives

Number of pages: 19 Posted: 25 Feb 2020
Jeffrey L. Coles, Zhichuan Frank Li and Yan Albert Wang
University of Utah - Department of Finance, University of Western Ontario - Ivey School of Business and Auburn University
Downloads 65 (389,231)
Citation 1

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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.

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

28.

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

29.

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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30.

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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31.

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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32.

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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33.

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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34.

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: 1,244
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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 1,244 (19,817)

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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