Matching Items (9)
Filtering by

Clear all filters

133162-Thumbnail Image.png
Description
Executive compensation is broken into two parts: one fixed and one variable. The fixed component of executive compensation is the annual salary and the variable components are performance-based incentives. Clawback provisions of executive compensation are designed to require executives to return performance-based, variable compensation that was erroneously awarded in the

Executive compensation is broken into two parts: one fixed and one variable. The fixed component of executive compensation is the annual salary and the variable components are performance-based incentives. Clawback provisions of executive compensation are designed to require executives to return performance-based, variable compensation that was erroneously awarded in the year of a misstatement. This research shows the need for the use of a new clawback provision that combines aspects of the two currently in regulation. In our current federal regulation, there are two clawback provisions in play: Section 304 of Sarbanes-Oxley and section 954 of The Dodd\u2014Frank Wall Street Reform and Consumer Protection Act. This paper argues for the use of an optimal clawback provision that combines aspects of both the current SOX provision and the Dodd-Frank provision, by integrating the principles of loss aversion and narcissism. These two factors are important to consider when designing a clawback provision, as it is generally accepted that average individuals are loss averse and executives are becoming increasingly narcissistic. Therefore, when attempting to mitigate the risk of a leader keeping erroneously awarded executive compensation, the decision making factors of narcissism and loss aversion must be taken into account. Additionally, this paper predicts how compensation structures will shift post-implementation. Through a survey analyzing the level of both loss- aversion and narcissism in respondents, the research question justifies the principle that people are loss averse and that a subset of the population show narcissistic tendencies. Both loss aversion and narcissism drove the results to suggest there are benefits to both clawback provisions and that a new provision that combines elements of both is most beneficial in mitigating the risk of executives receiving erroneously awarded compensation. I concluded the most optimal clawback provision is mandatory for all public companies (Dodd-Frank), targets all executives (Dodd-Frank), and requires the recuperation of the entire bonus, not just that which was in excess of what should have been received (SOX).
ContributorsLarscheid, Elizabeth (Author) / Samuelson, Melissa (Thesis director) / Casas-Arce, Pablo (Committee member) / WPC Graduate Programs (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2018-12
134543-Thumbnail Image.png
Description
Zimbabwe's economic crisis has spun over decades since the late 90s. The ordeal began with hyperinflation between 1999 and 2008. During this time, the country was in debt and the government kept printing money to pay off the debt and take care of fiscal obligations. As a result, the economy

Zimbabwe's economic crisis has spun over decades since the late 90s. The ordeal began with hyperinflation between 1999 and 2008. During this time, the country was in debt and the government kept printing money to pay off the debt and take care of fiscal obligations. As a result, the economy has undergone some unstable phases which have made it difficult for citizens to comprehend how money works around the world. This project identifies the key events leading to Zimbabwe's economic struggles; describes the challenges of inadequate financial education; analyzes the role of financial literacy in alleviating Zimbabwe's economic crisis; acknowledges that financial literacy is a necessary foundation for creating financial independence amongst citizens, but is ineffective in the absence of financial inclusion; suggests blockchain technology as a sustainable means to mobilize both financial education and inclusion; provides recommendations for successful development of financial education and inclusion and introduces our plan to start an initiative that promotes financial independence amongst young Zimbabweans. It is without a doubt that public financial education and inclusion programs become a top priority for Zimbabweans in order to revive the economy. The conclusion is drawn from the idea that when individuals are empowered to be self-sufficient, they can intentionally or unintentionally contribute to economic growth by improving their standards of living and that of those around them.
ContributorsNyanhete, Yolanda (Co-author) / Vheremu, Gloria (Co-author) / Taylor, Todd (Thesis director) / Lin, Elva (Committee member) / School of Accountancy (Contributor) / Department of Information Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
133459-Thumbnail Image.png
Description
The Internet has brought along countless benefits to society and for the case of this thesis, especially educational benefits. Students can now have endless resources to whatever they wish to learn. This is especially beneficial in a time where a clear majority of studies show that the U.S.'s financial literacy

The Internet has brought along countless benefits to society and for the case of this thesis, especially educational benefits. Students can now have endless resources to whatever they wish to learn. This is especially beneficial in a time where a clear majority of studies show that the U.S.'s financial literacy is in a concerning state. However, even though there may be a bounty of websites and programs available non-exclusively, they do not all effectively teach accounting and finance. In fact, many websites aimed at teaching accounting or finance simply replicate textbooks and glossaries, even though there are ways to make them more effective learning tools. Since the scope of this empirical observation is too large to confront, this thesis is mainly concerned with students currently learning accounting and finance who wish to have more supplemental learning information. Accordingly, the overarching argument of this thesis, is that college students aiming to learn accounting do not have enough resources to fully understand the classroom formulas and concepts. The creative solution for this problem is a website, name FIN-WIT aimed at providing financial content in plain language and with real-world examples.
ContributorsDitore, Heather Beatrice (Author) / Orpurt, Steven (Thesis director) / Sopha, Matthew (Committee member) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
134933-Thumbnail Image.png
Description
Given its impact on the accounting profession and public corporations, Sarbanes-Oxley Act of 2002(SOX) is a widely researched regulation among accounting scholars. Research typically focuses on the impact it has had on corporations, executives and auditors, however, there is limited research that illustrates the impact SOX may have on average

Given its impact on the accounting profession and public corporations, Sarbanes-Oxley Act of 2002(SOX) is a widely researched regulation among accounting scholars. Research typically focuses on the impact it has had on corporations, executives and auditors, however, there is limited research that illustrates the impact SOX may have on average Americans. There were several US criminal code sections that resulted from the passing of SOX. Statute 1519, which is often referred to as the "anti-shredding provision", penalizes anyone who "knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to" obstruct a current or foreseeable federal investigation. This statute, although intended to punish behavior similar to that which occurred in the early 2000s by corporations and auditors, has been used to charge people beyond its original intent. Several issues with the crafting of the statute cause its broad application and some litigation even reached the Supreme Court due to its vague wording. Not only is the statute being applied beyond the intent, there are other issues that legal scholars have critiqued it for. This statute is far from being the only law facing these issues as the same issues and critiques are found in the 14th amendment. Rewriting the statute seems to be the most effective way to address the concerns of judges, lawyers and defendants regarding the statute. In addition, Congress could have passed this statute outside of SOX to avoid being seen as overreaching if obstruction of justice related to documents was actually an issue outside of corporate fraud.
ContributorsGonzalez, Joana (Author) / Samuelson, Melissa (Thesis director) / Lowe, Jordan (Committee member) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description

The purpose of this project was to promote financial literacy amongst individuals in their 20s and empower them to take control of their finances. Statistics show society is lacking the financial knowledge to create a successful future and be able to one day retire debt free. My research details that

The purpose of this project was to promote financial literacy amongst individuals in their 20s and empower them to take control of their finances. Statistics show society is lacking the financial knowledge to create a successful future and be able to one day retire debt free. My research details that by starting in your 20s and aiming for five simple, yet effective, goals one will be able to launch their success and do so reasonably. The thesis presentation details each of the five goals and outlines how to achieve each.

ContributorsErena, Allison (Author) / Prince, Linda (Thesis director) / Radway, Debra (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05
ContributorsErena, Allison (Author) / Prince, Linda (Thesis director) / Radway, Debra (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05
ContributorsErena, Allison (Author) / Prince, Linda (Thesis director) / Radway, Debra (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05
166041-Thumbnail Image.png
Description
The goal of Dough is to create financial content that educates college students and young adults in areas of financial literacy. College students and young adults generally have debt from student loans, and typically don’t have much time to work as they focus on school and earn their degree. Financial

The goal of Dough is to create financial content that educates college students and young adults in areas of financial literacy. College students and young adults generally have debt from student loans, and typically don’t have much time to work as they focus on school and earn their degree. Financial literacy can make the lives of young adults much easier, however this is typically not a resource that is easily available to them. Our proposed solution to fight the lack of financial literacy is to create educational content including videos, articles, and a website that educates students and young adults on how to acquire good financial habits.
ContributorsRodríguez, Natalia (Author) / Clausen, Taylor (Co-author) / Mitchell, Zachary (Co-author) / Gibson, Cole (Co-author) / Byrne, Jared (Thesis director) / Satpathy, Asish (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / WPC Graduate Programs (Contributor)
Created2022-05
ContributorsErena, Allison (Author) / Prince, Linda (Thesis director) / Radway, Debra (Committee member) / Barrett, The Honors College (Contributor) / School of Accountancy (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05