The relation between nonrecurring accounting transactions and CEO cash compensation.
研究发现CEO现金薪酬与线上盈利正相关，但不受线上亏损影响；非经常性收益会增加薪酬，非经常性损失则不会，且损益在利润表中的分类影响不大。
Abstract This study investigates the rote of alternative earnings components in the CEO cash compensation function. We find that cash compensation is significantly positively related to above the line earnings, as long as results are positive. Compensation is shielded from the effects of above the line losses. Similarly, nonrecurring transactions that increase income flow through to compensation, but nonrecurring losses do not. This effect is noted for gains and losses that arise both from extraordinary transactions, discontinued operations and nonrecurring items that do not qualify for below the line presentation. Thus, the data tell a remarkably consistent story: gains flow through to compensation, but losses do not. The classification of the gain or loss on the income statement is of relatively little importance.