Prior research has investigated the association between executive equity compensation and earnings management but the evidence is not conclusive. We investigate this question using the quantile regression approach which allows the coefficient on the independent variable (equity compensation) to shift across the distribution of the dependent variable (earnings management). Based on a sample of 1...

This paper examines business cycle variation in the earnings-returns relation. Earnings are more persistent when growth rates are high (i.e., in an expansion) than when growth rates are low (i.e., in a recession). Earnings are more persistent when production is high (i.e., in a credit crunch period) than when production is low (i.e., in a reliquification period). Relatedly, earnings response co...

We analyze the changes in earnings of paid workers (wage earners) in rural India from 2004/05 to 2011/12. Real earnings increased at all percentiles, and the percentage increase was larger at the lower end. Consequently, earnings inequality declined. Recentered influence function decompositions show that throughout the earnings distribution, except at the very top, both changes in “worker chara...

We study the labor supply of South Indian boat-owners using daily data on labor force participation and the value of catches from 2000 to 2007. Our panel is among the most extensive ever used for this purpose and the …rst to pertain to a non-service related occupation in a developing country. Our analysis compares two hypotheses about the response of labor supply to increases in wages and incom...

This study examines the valuation effects of initial public offerings (IPOs) and intra-industry IPOs in Turkey between 2010 2018. The purpose this is to find out whether are overvalued they impact pricing industry peers. First, investigated. Price-to-value ratios Turkish compared with sector average determine overvalued. not against rivals’ price-to-value based on sales earnings-before-interest...

To answer these questions, we use a confidential panel dataset on earnings histories from the US Social Security Administration (SSA), which allows us to follow workers’ earnings over the business cycle. Our approach is to identify individuals who were in the top 1 percent of the earnings distribution just prior to the economy entering a recession or boom. We ask how the evolution of these work...

OBJECTIVES We estimated the costs associated with reducing class sizes in kindergarten through grade 3 as well as the effects of small class sizes on selected outcomes such as quality-adjusted life-years and future earnings. METHODS We used multiple data sets to predict changes in the outcomes assessed according to level of educational attainment. We then used a Markov model to estimate futur...

This study examines how individual investor trade in response to quarterly earnings surprises and the relation of trades to subsequent returns. Individuals are highly significant net buyers after negative earnings surprises; net buying is weaker after positive surprises. There is no indication that trading by any of our investor subcategories explains the concentration of drift at subsequent ea...

The earnings replacement rates of retired couples, which take into account the earnings and benefits of wives, are important for assessing the adequacy of social security benefits. Using data from the Social Security Administration’s longitudinal Retirement History Study, this article presents the first view of replacement rates for couples. The findings show that, though about half the wives c...