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Stock price reaction and value relevance of recognition versus disclosure: the case of stock-based compensation

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  • Espahbodi, Hassan
  • Espahbodi, Pouran
  • Rezaee, Zabihollah
  • Tehranian, Hassan

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  • Espahbodi, Hassan & Espahbodi, Pouran & Rezaee, Zabihollah & Tehranian, Hassan, 2002. "Stock price reaction and value relevance of recognition versus disclosure: the case of stock-based compensation," Journal of Accounting and Economics, Elsevier, vol. 33(3), pages 343-373, August.
    • Handle: RePEc:eee:jaecon:v:33:y:2002:i:3:p:343-373
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    References listed on IDEAS

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    1. Smith, Clifford Jr. & Watts, Ross L., 1992. "The investment opportunity set and corporate financing, dividend, and compensation policies," Journal of Financial Economics, Elsevier, vol. 32(3), pages 263-292, December.
    2. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    3. Sloan, Richard G., 1993. "Accounting earnings and top executive compensation," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 55-100, April.
    4. Lys, Thomas, 1984. "Mandated accounting changes and debt covenants : The case of oil and gas accounting," Journal of Accounting and Economics, Elsevier, vol. 6(1), pages 39-65, April.
    5. Sefcik, Se & Thompson, R, 1986. "An Approach To Statistical-Inference In Cross-Sectional Models With Security Abnormal Returns As Dependent Variable," Journal of Accounting Research, Wiley Blackwell, vol. 24(2), pages 316-334.
    6. Reza Espahbodi & Hassan Tehranian, 1989. "Stock market reactions to the issuance of FAS 33 and its preceding exposure drafts," Contemporary Accounting Research, John Wiley & Sons, vol. 5(2), pages 575-591, March.
    7. Schipper, K & Thompson, R, 1983. "The Impact Of Merger-Related Regulations On The Shareholders Of Acquiring Firms," Journal of Accounting Research, Wiley Blackwell, vol. 21(1), pages 184-221.
    8. Lambert, Richard A., 1993. "The use of accounting and security price measures of performance in managerial compensation contracts: A discussion," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 101-123, April.
    9. Espahbodi, Hassan & Strock, Elizabeth & Tehranian, Hassan, 1991. "Impact on equity prices of pronouncements related to nonpension postretirement benefits," Journal of Accounting and Economics, Elsevier, vol. 14(4), pages 323-346, December.
    10. Dechow, PM & Hutton, AP & Sloan, RG, 1996. "Economic consequences of accounting for stock-based compensation," Journal of Accounting Research, Wiley Blackwell, vol. 34, pages 1-20.
    11. Collins, Daniel W. & Rozeff, Michael S. & Dhaliwal, Dan S., 1981. "The economic determinants of the market reaction to proposed mandatory accounting changes in the oil and gas industry: A cross-sectional analysis," Journal of Accounting and Economics, Elsevier, vol. 3(1), pages 37-71, March.
    12. Gaver, Jennifer J. & Gaver, Kenneth M., 1993. "Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 125-160, April.
    13. Salatka, William K., 1989. "The impact of SFAS no. 8 on equity prices of early and late adopting firms : An events study and cross-sectional analysis," Journal of Accounting and Economics, Elsevier, vol. 11(1), pages 35-69, February.
    14. Healy, Paul M. & Palepu, Krishna G., 1990. "Effectiveness of accounting-based dividend covenants," Journal of Accounting and Economics, Elsevier, vol. 12(1-3), pages 97-123, January.
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