John Core

Nanyang Technological University Professor of Accounting

Biography | Selected Publications

“Mandatory Disclosure Quality, Inside Ownership, and Cost of Capital.” Core, John E., Luzi Hail and Rodrigo S. Verdi. European Accounting Review Vol. 24, No. 1 (2015): 1-29. (2015)

"Do Independent Directors Cause Improvements in Firm Transparency?" Armstrong, Christopher S., John E. Core and Wayne R. Guay. Journal of Financial Economics Vol. 113, No. 3 (2014): 383-403. (2014)

The Relation between Reporting Quality and Financing and Investment: Evidence from Shocks to Financing Capacity.” Balakrishnan, Karthik, John E. Core and Rodrigo S. Verdi. Journal of Accounting Research Vol. 52, No. 1 (2014): 1-36. (2014)

"Discussion of 'Are Voluntary Disclosures that Disavow the Reliability of Mandated Fair Value Information Informative or Opportunistic?'" Core, John E. Journal of Accounting & Economics Vol. 52, No. 2-3 (2011): 252-258. (2011)

"When Does Information Asymmetry Affect the Cost of Capital?" Armstrong, Christopher S., John E. Core, Daniel J. Taylor and Robert E. Verrecchia. Journal of Accounting Research Vol. 49, No. 1 (2011): 1-40. (2011)

"Are US CEOs Paid More Than UK CEOs? Inferences From Risk-Adjusted Pay." Conyon, Martin J., John E. Core and Wayne R. Guay. Review of Financial Studies Vol. 24, No. 2: 402- 438. (2011)

"Have the Tax Benefits of Debt been Overstated?" Blouin, Jennifer, John E. Core and Wayne R. Guay. Journal of Financial Economics Vol. 98, No. 2 (2010): 195- 213. (2010)

"An Economic and Ethical Approach to Charity and Charity Endowments." Core, John E. and Thomas Donaldson. Review of Social Economy Vol. 68, No. 3 (2010): 261-284. (2010)

"Is There a Case for Regulating Executive Pay in the Financial Services Industry?" Core, John E. and Wayne R. Guay. In After the Crash: The Future of Finance, edited by Yasuyuki Fuchita, Richard J. Herring and Robert E. Litan.  Baltimore, MD: Brookings Institution Press, 2010.

"Discussion of Chief Executive Officer Equity Incentives and Accounting Irregularities." Core, John E. Journal of Accounting Research Vol. 48, No. 2 (2010): 273-287. (2010)

"The Role of the Business Press as an Information Intermediary." Bushee, Brian J., John E. Core, Wayne R. Guay and Sophia J. W. Hamm. Journal of Accounting Research Vol. 48, No. 1 (2010): 1-19. (2010)

"Is CEO Pay Too High and Are Incentives Too Low? A Wealth-Based Contracting Framework." Core, John E. and Wayne R. Guay. The Academy of Management Perspectives Vol. 24, No. 1 (2010): 5-19. (2010)

Is CEO Pay Too High and Are Incentives Too Low? A Wealth-Based Contracting Framework (2010)

"Discussion of Capital Structure and Risk Management Forum Futures." John E. Core. In Forum for the Future of Higher Education. Cambridge, MA: December 2008.

“Is Accruals Quality a Priced Risk Factor?” Core, John E., Wayne R. Guay and Rodrigo S. Verdi. Journal of Accounting and Economics Vol. 46, No. 1 (2008): 2-22. (2008)

"The Power of the Pen and Executive Compensation." Core, John E., Wayne R. Guay and David F. Larcker. Journal of Financial Economics Vol. 88, No. 1 (2008): 1- 25. (2008)

"The Best Advice on Investing I Know." Core, John E. In The Best Investment Advice I Ever Received, edited by Rick Wolff, 43-47. New York, NY: Business Plus, 2007.

“Agency Problems of Excess Endowment Holdings in Not-For-Profit Firms.” Core, John E., Wayne R. Guay and Rodrigo S. Verdi. Journal of Accounting and Economics Vol. 41, No. 3 (2006): 307-333. (2006)

"Discussion of An Analysis of the Theories and Explanations Offered for the Mispricing of Accruals and Accruals Components." Core, John E. Journal of Accounting Research Vol. 44, No. 2 (2006): 341-350. (2006)

"Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations." Core, John E., Wayne R. Guay and Tjomme O. Rusticus. Journal of Finance Vol. 61, No. 2 (2006): 655-687. (2006)

“Stock Market Anomalies: What Can We Learn From Repurchases and Insider Trading?” Core, John E., Wayne R. Guay, Scott A. Richardson and Rodrigo S. Verdi. Review of Accounting Studies Vol. 11, No. 1 (2006): 49-70. (2006)

"Is U.S. CEO Compensation Broken?" Core, John E., Wayne R. Guay and Randall S. Thomas. Journal of Applied Corporate Finance Vol. 17, No. 4 (2005): 97-104. (2005)

"Equity Incentives." Core, John E., Wayne R. Guay and David F. Larcker. In Top Pay and Performance: International and Strategic Approach, edited by Shaun Tyson and Frank Bournois,157-172. Oxford, UK: Elsevier Butterworth-Heineman, 2005.

"Is U.S. CEO Compensation Inefficient Pay without Performance?" Core, John E., Wayne R. Guay and Randall S. Thomas. Review of Pay without Performance: The Unfulfilled Promise of Executive Compensation by Lucian Bebchuk and Jesse Fried. Michigan Law Review, 2005. (2005)

"Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts." Core, John E., Wayne Guay and Robert E. Verrecchia. The Accounting Review Vol. 78, No. 4 (2003): 957-981. (2003)

"Executive Equity Compensation and Incentives: A Survey." Core, John E., Wayne R. Guay and David F. Larcker. Economic Policy Review - Federal Reserve Bank of New York Vol. 9, No. 1 (2003): 27-50. (2003)

"Market Valuations in the New Economy: An Investigation of What Has Changed." Core, John E., Wayne Guay and Andrew Van Buskirk. Journal of Accounting & Economics Vol. 34, No. 1-3 (2003): 43-67. (2003)

"The Economic Dilution of Employee Stock Options: Diluted EPS for Valuation and Financial Reporting." Core, John E., Wayne R. Guay and S.P. Kothari.The Accounting Review Vol. 77, No. 3 (2002): 627-652. (2002)

"Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility." Core, John E. and Wayne Guay. Journal of Accounting Research Vol. 40, No. 3 (2002): 613-630. (2002)

"Performance Consequences of Mandatory Increases in Executive Stock Ownership." Core, John E. and David F. Larcker. Journal of Financial Economics Vol. 64, No. 3 (2002): 317-340. (2002)

"Discussion of The Roles of Performance Measures and Monitoring in Annual Governance Decisions in Entrepreneurial Firms." Core, John E. Journal of Accounting Research Vol. 40, No. 2 (2002): 519-527. (2002)

"Discussion: Evidence on the Management of Earnings Components." Core, John E. Journal of Accounting, Auditing & Finance Vol. 16: 324-330. (2001)

"Discussion: Using Fundamental Analysis to Assess Earnings Quality: Evidence from the Center for Financial Research and Analysis." Core, John E. Journal of Accounting, Auditing & Finance Vol.16, No. 4 (2001): 297-299. (2001)

"A Review of the Empirical Disclosure Literature: Discussion." Core, John E. Journal of Accounting & Economics Vol. 31, No. 1-3 (2001): 441-456. (2001)

"Stock Option Plans for Non-Executive Employees Core." Core, John E. and Wayne Guay. Journal of Financial Economics Vol. 61, No. 2 (2001): 253-287. (2001)

"The Directors’ and Officers’ Insurance Premium: An Outside Assessment of the Effectiveness of Corporate Governance." Core, John E. Journal of Law, Economics, and Organization Vol. 16, No. 2 (2000): 449-477. (2000)

"The Use of Equity Grants to Manage Optimal Equity Incentive Levels." Core, John E. and Wayne Guay. Journal of Accounting and Economics Vol. 28, No. 2 (1999): 151-184. (1999)

"The Effect of Accounting-based Covenants on Equity Valuation." Core, John E. and Catherine M. Schrand. Journal of Accounting and Economics Vol. 27, No. 1 (1999): 1-34. (1999)

"Corporate Governance, CEO Compensation, and Firm Performance." Core, John E., Robert W. Holthausen and David F. Larcker. Journal of Financial Economics Vol. 51, No. 3 (1999): 371-406. (1999)

"On the Corporate Demand for Directors’ and Officers’ Insurance." Core, John E. The Journal of Risk and Insurance Vol. 64, No. 1 (1997): 63-87. (1997)

"Executive Compensation: Looking to the 1990s." Overton, B. and John E. Core. Pension World Vol. 26 (1990): 10-12.

"Compensation Plans Mystify Some: Executive Pay Can Affect Share Value." Core, John E. Pensions & Investments, April 1990.

 

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General Expertise
Accounting; Accounting fraud; Compensation; Contracting; Corporate disclosure practices; Corporate governance; Executive compensation; Financial reporting; Financial statement analysis; Management control; Managerial accounting; Performance measurement systems; Valuation