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Foreign Currency Adjustments in Executive Compensation.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Foreign Currency Adjustments in Executive Compensation./
Author:	Wang, Kunjue.
Description:	1 online resource (71 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-11, Section: B.
Contained By:	Dissertations Abstracts International84-11B.
Subject:	Energy. -
Online resource:	click for full text (PQDT)
ISBN:	9798379513375

Foreign Currency Adjustments in Executive Compensation.
Wang, Kunjue.

Foreign Currency Adjustments in Executive Compensation. - 1 online resource (71 pages)

Source: Dissertations Abstracts International, Volume: 84-11, Section: B.

Thesis (Ph.D.)--Columbia University, 2023.

Includes bibliographical references

This paper studies foreign currency adjustments in executive compensation (i.e. exclusion of foreign currency impacts from accounting-based performance metrics). In light of recent debates on the pros and cons of using non-GAAP adjustments in compensation, I propose a rational explanation for adjusting foreign currency concerning firm's operating decisions. I employ real options theory to study foreign currency fluctuations in decision making. I show, both analytically and empirically, that Integration Level, the extent of coordinated activities or cross-border transactions between the parent and its foreign subsidiaries, can serve as an explanation. Firms with a high level of integration are less likely to adopt foreign currency adjustments. On average, firms consider foreign currency fluctuations to make corporate decisions; the usage of foreign currency adjustments in executive compensation is less likely to be a result of managerial opportunism.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798379513375Subjects--Topical Terms:

784773
Energy.
Subjects--Index Terms:

AccountingIndex Terms--Genre/Form:

554714
Electronic books.

Foreign Currency Adjustments in Executive Compensation.
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500 $a Source: Dissertations Abstracts International, Volume: 84-11, Section: B.
500 $a Advisor: Rajgopal, Shivaram;Glover, Jonathan.
502 $a Thesis (Ph.D.)--Columbia University, 2023.
504 $a Includes bibliographical references
520 $a This paper studies foreign currency adjustments in executive compensation (i.e. exclusion of foreign currency impacts from accounting-based performance metrics). In light of recent debates on the pros and cons of using non-GAAP adjustments in compensation, I propose a rational explanation for adjusting foreign currency concerning firm's operating decisions. I employ real options theory to study foreign currency fluctuations in decision making. I show, both analytically and empirically, that Integration Level, the extent of coordinated activities or cross-border transactions between the parent and its foreign subsidiaries, can serve as an explanation. Firms with a high level of integration are less likely to adopt foreign currency adjustments. On average, firms consider foreign currency fluctuations to make corporate decisions; the usage of foreign currency adjustments in executive compensation is less likely to be a result of managerial opportunism.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2024
538 $a Mode of access: World Wide Web
650 4 $a Energy. $3 784773
653 $a Accounting
653 $a Executive compensation
653 $a Foreign Currency
653 $a Non-GAAP adjustments
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