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dc.contributor.authorHuang, Weien
dc.contributor.authorBoateng, Agyenimen
dc.date.accessioned2018-10-24T13:54:16Z
dc.date.available2018-10-24T13:54:16Z
dc.date.issued2016-08-03
dc.identifier.citationHuang, W. and Boateng, A. (2016) Executive shareholding, compensation, and analyst forecast of Chinese firms, 49 (15), pp. 1459-1472en
dc.identifier.issn1466-4283
dc.identifier.urihttp://hdl.handle.net/2086/16823
dc.descriptionThe file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.en
dc.description.abstractWe examine the impact of executive and leadership shareholding and cash compensation on analyst forecast error and dispersion as proxies for information asymmetry. We find that firms pay higher compensation (or excess compensation) to executives and directors are associated with higher information asymmetry. The positive association is stronger where executives’ and directors’ shareholdings are higher. Shareholding appears to facilitate managerial entrenchment and gives highly paid executives/leadership stronger structural power which adversely affects information disclosure leading to larger forecast error and dispersion. These results are robust to different measures of compensation and alternative models controlling for the predictability of firm level earnings. Our findings indicate that executive/director shareholding and compensation do not provide sufficient incentives for information disclosure by Chinese firms.en
dc.publisherTaylor and Francisen
dc.subjectExecutive compensationen
dc.subjectanalyst forecast;en
dc.subjectChinaen
dc.subjectinformation asymmetryen
dc.titleExecutive shareholding, compensation, and analyst forecast of Chinese firmsen
dc.typeArticleen
dc.identifier.doihttps://doi.org/10.1080/00036846.2016.1218432
dc.peerreviewedYesen
dc.funderN/Aen
dc.projectidN/Aen
dc.cclicenceCC-BY-NCen
dc.date.acceptance2016-08-01en
dc.researchinstituteFinance and Banking Research Group (FiBRe)en


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