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 (2015). European Accounting Review, 24(1): 1-29.  (2015)

"Do Independent Directors Cause Improvements in Firm Transparency?" Armstrong, Christopher S., John E. Core, and Wayne R. Guay (September 2014). Journal of Financial Economics, 113(3): 383-403. 

"Does Financial Reporting Quality affect Firm-Level Investments? Evidence from Shocks to Collateral Values." Balakrishnan, Karthik, John E. Core, and Rodrigo S. Verdi (2014). Journal of Accounting Research 52: 1–36. (2014)

"When Does Information Asymmetry Affect the Cost of Capital?" Armstrong, Christopher S., John E. Core, Daniel J. Taylor, and Robert E. Verrecchia (March 2011). Journal of Accounting Research, 49(1): 1-40. 

"Are US CEOs Paid More Than UK CEOs? Inferences From Risk-Adjusted Pay." Conyon, Martin J., John E. Core, and Wayne R. Guay (2011). Review of Financial Studies, 24: 402- 438.  (2011)

"Discussion of 'Are Voluntary Disclosures that Disavow the Reliability of Mandated Fair Value Information Informative or Opportunistic?'" Core, John E. (2011). Journal of Accounting & Economics 52(2-3): 252-258.  (2011)

"Discussion of Chief Executive Officer Equity Incentives and Accounting Irregularities." Core, John E. (May 2010). Journal of Accounting Research, 48(2): 273-287. 

"The Role of the Business Press as an Information Intermediary." Bushee, Brian J., John E. Core, Wayne R. Guay, and Sophia J. W. Hamm (March 2010). Journal of Accounting Research 48(1): 1-19. 

"Is CEO Pay Too High and Are Incentives Too Low? A Wealth-Based Contracting Framework." Core, John E., and Wayne R. Guay (February 2010). The Academy of Management Perspectives, 24(1): 5-19. 

"An Economic and Ethical Approach to Charity and Charity Endowments." Core, John E., and Thomas Donaldson (2010). Review of Social Economy, 68(3): 261-284. (2010)

"Have the Tax Benefits of Debt been Overstated?" Blouin, Jennifer, John E. Core, and Wayne R. Guay (2010). Journal of Financial Economics, 98(2): 195- 213.  (2010)

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

Is there a case for regulating executive pay in the financial services industry? (2010)

"Is there a case for regulating executive pay in the financial services industry?" Core, John E., and Wayne R. Guay. In Fuchita, Yasuyuki, Richard J. Herring, and Robert E. Litan (eds.). After the Crash: The Future of Finance (2010), Baltimore: Brookings Institution Press.  (2010)

Mandatory Disclosure Quality, Inside Ownership, and Cost of Capital (2010)

Which Proxy for Expected Returns? Realized Returns vs. Implied Cost of Capital (2010)

"Is Accruals Quality a Priced Risk Factor?" Core, John E., Wayne R. Guay, and Rodrigo S. Verdi (September 2008). Journal of Accounting and Economics, 46(1): 2-22. 

"The Power of the Pen and Executive Compensation." Core, John E., Wayne R. Guay, and David F. Larcker (April 2008). Journal of Financial Economics, 88(1): 1- 25.

"Discussion of Capital Structure and Risk Management Forum Futures." Core, John E. (2008). Forum for the Future of Higher Education: 70-73 (2008)

"The Best Advice on Investing I Know." Core, John E. In Claman, Liz,The Best Investment Advice I Ever Received, Business Plus. 2007. 

"Discussion of An Analysis of the Theories and Explanations Offered for the Mispricing of Accruals and Accruals Components." Core, John E. (May 2006). Journal of Accounting Research, 44(2): 341-350. 

"Agency Problems of Excess Endowments in Not-for-profit Firms." Core, John E., Wayne R. Guay, and Rodrigo S. Verdi (2006). Journal of Accounting and Economics, 41(3): 307-333.  (2006)

Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations (2006)

Stock Market Anomalies: What Can We Learn from Repurchases and Insider Trading? (2006)

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

"Is U.S. CEO Compensation Broken?" Core, John E., Wayne R. Guay, and Randall S. Thomas (2005). Journal of Applied Corporate Finance, 17(4): 97-104.  (2005)

"Is U.S. CEO Compensation Inefficient Pay without Performance?" A review of Pay without Performance: The Unfulfilled Promise of Executive Compensation by Lucian Bebchuk and Jesse Fried. Core, John E., Wayne R. Guay, and Randall S. Thomas, Michigan Law Review 103 (2005): 1142-1185.  (2005)

"Executive Equity Compensation and Incentives: A Survey." Core, John E., Wayne R. Guay, and David F. Larcker (April 2003). Economic Policy Review - Federal Reserve Bank of New York, 9: 27-50. 

"Market Valuations in the New Economy: An Investigation of What Has Changed." Core, John E., Wayne Guay, and Andrew Van Buskirk (2003). Journal of Accounting & Economics, 34(1-3): 43-67.  (2003)

"Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts." Core, John E., Wayne Guay, and Robert E. Verrecchia (October 2003). The Accounting Review, 78(4): 957-981. 

"Performance Consequences of Mandatory Increases in Executive Stock Ownership." Core, John E., and David F. Larcker (June 2002). Journal of Financial Economics, 64(3): 317-340. 

"Discussion of The Roles of Performance Measures and Monitoring in Annual Governance Decisions in Entrepreneurial Firms." Core, John E. (May 2002). Journal of Accounting Research, 40(2): 519-527. 

"Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility." Core, John E., and Wayne Guay (2002). Journal of Accounting Research, 40: 613-630.  (2002)

"The Economic Dilution of Employee Stock Options: Diluted EPS for Valuation and Financial Reporting." Core, John E., Wayne Guay, and S.P. Kothari (2002). The Accounting Review, 77(3): 627-652. (2002)

"Stock Option Plans for Non-Executive Employees Core." Core, John E., and Wayne Guay (August 2001). Journal of Financial Economics, 61(2): 253-287.

"A Review of the Empirical Disclosure Literature: Discussion." Core, John E. (2001). Journal of Accounting & Economics 31(1-3): 441-456.  (2001)

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

"Discussion: Using Fundamental Analysis to Assess Earnings Quality: Evidence from the Center for Financial Research and Analysis." Core, John E. (2001). Journal of Accounting, Auditing & Finance, 16(4): 297-299.  (2001)

"The Directors’ and Officers’ Insurance Premium: An Outside Assessment of the Effectiveness of Corporate Governance." Core, John E. (Fall 2000). Journal of Law, Economics, and Organization, 16(2): 449-477.

"The Effect of Accounting-based Covenants on Equity Valuation." Core, John E., and Catherine M. Schrand (February 1999). Journal of Accounting and Economics, 27(1): 1-34. 

"Corporate Governance, CEO Compensation, and Firm Performance." Core, John E. Robert W. Holthausen, and David F. Larcker (March 1999). Journal of Financial Economics, 51(3): 371-406. 

"The Use of Equity Grants to Manage Optimal Equity Incentive Levels." Core, John E., and Wayne Guay (1999). Journal of Accounting and Economics, 28(2): 151-184.  (1999)

"On the Corporate Demand for Directors’ and Officers’ Insurance." Core, John E (1997). The Journal of Risk and Insurance, 64(1): 63-87.  (1997)

"Compensation Plans Mystify Some: Executive Pay Can Affect Share Value." Core, John E. (April 16, 1990). Pensions & Investments, 18: 29-30. 

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

 

Contact Information
Office: E62-670
Tel: (617) 715-4819
Fax: (617) 253-0603
Support Staff
Name: Cassie Reddick
Tel: (617) 715-4178
Name: Jackie Donnelly
Tel: (617) 324-1198
Name: Nancy Leonelli
Tel: (617) 253-6130
Group(s)

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