SEC Disclosure Regulation Management Perquisites.
研究SEC的津贴披露要求和IRS的津贴征税政策如何共同导致CEO薪酬从津贴转向现金工资和奖金，使用回归模型分析实际薪酬变化。
Abstract ABSTRACT: This study examines the joint effect of perquisite disclosure regulations and enforcement policies on changes in cash salary and bonus compensation paid to chief executive officers. It is hypothesized that the combined effect of an SEC perquisite disclosure requirement and the IRS policy of taxing perquisites as income causes a shift from perquisites to monetary compensation. A regression model is used to assess the changes in real compensation. The findings support the hypothesis that a change in the chief executive officers' compensation occurred as a result of the disclosure requirement and tax policies.