Accounting earnings and top executive compensation☆
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This paper is based on my dissertation at the University of Rochester. I am indebted to my dissertation committee, S.P. Kothari, Kevin Murphy, Jerry Zimmerman, and especially Ross Watts (Chairman), for their guidance and encouragement. I am also grateful for the comments of seminar participants at the University of California, Berkeley, the University of Chicago, Columbia University, Harvard University, the University of Iowa, MIT, the University of Michigan, Northwestern University, the University of Pennsylvania, the University of Rochester, and the University of Washington. Special thanks go to Ray Ball, Patricia Dechow, Rick Lambert, and Dan Collins (the referee) for their many useful comments. I would also like to acknowledge the support of Kevin Murphy in providing me with access to his CEO compensation data. Financial assistance was generously provided by the Deloitte and Touche Foundation. I alone am responsible for the contents.