The timeliness of financial reporting has been considered as an important factor that contributes to the well-functioning of an economy. This study extends the contemporary research stream by examining determinants of the timeliness of financial reporting process. Specifically, we investigate whether report lag is influenced by (1) the level of executive compensation; (2) the level of stock-based compensation compared to cash-based compensation, and (3) the level of executive compensation above the expected compensation level. We find that firms have shorter report lag when their level of executive compensation is higher. We also document that firms with more stock-based compensation have shorter financial reporting delays. Finally, firms with executive compensation level above the expected executive compensation are more likely to have shorter report lags. Our study underscores the importance of the type and the level of compensation as determinants of firms’ earnings reporting delays.

中文翻译：

---

高管薪酬对报告滞后的影响：经验证据

财务报告的及时性被认为是促进经济运行良好的重要因素。本研究通过检查财务报告过程及时性的决定因素扩展了当代研究流。具体来说，我们调查报告滞后是否受（1）高管薪酬水平的影响；(2) 基于股票的薪酬水平与基于现金的薪酬相比，以及 (3) 高管薪酬水平高于预期薪酬水平。我们发现，当高管薪酬水平较高时，公司的报告滞后时间较短。我们还记录了以股票为基础的薪酬更高的公司的财务报告延迟时间更短。最后，高管薪酬水平高于预期高管薪酬的公司更有可能具有更短的报告滞后时间。我们的研究强调了薪酬类型和薪酬水平作为公司收益报告延迟的决定因素的重要性。