2 options
Diffusion of corporate governance from influential adopters / Xiao, Liang J.
Connect to full text Available online
View online- Format:
- Book
- Thesis/Dissertation
- Author/Creator:
- Xiao, Liang J., author.
- Language:
- English
- Subjects (All):
- Accounting.
- Accounting--Penn dissertations.
- Penn dissertations--Accounting.
- Local Subjects:
- Accounting.
- Accounting--Penn dissertations.
- Penn dissertations--Accounting.
- Genre:
- Academic theses.
- Physical Description:
- 1 online resource (107 pages)
- Contained In:
- Dissertation Abstracts International 78-06A(E).
- Place of Publication:
- [Philadelphia, Pennsylvania] : University of Pennsylvania ; Ann Arbor : ProQuest Dissertations & Theses, 2016.
- Language Note:
- English
- System Details:
- Mode of access: World Wide Web.
- text file
- Summary:
- Based on diffusion theory, I conjecture that governance mechanisms, in particular performance-contingent equity (PCE), exhibit behavior characteristic of influential adopter diffusion. That is, firms tend to emulate an influential industry peer in adopting PCE in their executive compensation contracts. Using a large sample constructed from textual analysis of proxy statements, I find evidence of influential adopter diffusion through robust positive relations between PCE adoption and that of influential industry adopters. The results apply when examining the design of PCE provisions as well. Additional analyses suggest that the diffusion relation between influential adopters and their peers varies inversely with industry heterogeneity and differences in CEO compensation structure, and is not driven by window-dressing incentives to placate activist investors. In sum, my findings shed light on the spread of PCE over time by way of influential adopter diffusion.
- Notes:
- Source: Dissertation Abstracts International, Volume: 78-06(E), Section: A.
- Advisors: Wayne Guay; Committee members: Christopher Ittner; Richard Lambert; Daniel Taylor.
- Department: Accounting.
- Ph.D. University of Pennsylvania 2016.
- Local Notes:
- School code: 0175
- ISBN:
- 9781369510270
- Access Restriction:
- Restricted for use by site license.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.