Pay disparity within top management teams, real earnings management, and firm value: destructive competition or value creation? A moderated mediating model

被引：5
|
作者：
He, Wei [2 ]
Shi, Xuanyi [1 ,2 ]
Chang, Yue [3 ]
Wu, Wenjun [2 ]
机构：
[1] Xiamen Univ Technol, Sch Econ & Management, Xiamen, Peoples R China
[2] Macau Univ Sci & Technol, Sch Business, Macau, Peoples R China
[3] Postal Savings Bank China, Internet Finance Dept, Beijing, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2022年 / 29卷 / 05期
关键词：
Pay disparity; top management team; real earnings management; product market competition; firm value;
D O I：
10.1080/13504851.2020.1869156
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article examines the impact of pay disparity within the top management team (TMT) on real earnings management. Using data from Chinese listed firms for the period 2007 to 2018, we find that pay disparity within TMT has a negative impact on real earnings management and this relationship further enhances firms' value, which supports internal governance view. Moreover, the indirect effect is stronger when product market competition is high. Results hold for both accounting and market firm value measures.
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页码：384 / 390
页数：7
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