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Does wage disparity, measured as the difference between highest and lowest paid workers, affect the quality of reported financial information? I collect accounting professional wage data from an international accounting and finance employment placement firm for the period of 1972 to 2017. I investigate to what degree wage disparity in corporate and public accounting has affected accounting information quality by testing predictions derived from equity theory and tournament theory. I find that vertical wage disparity within, as well as horizontal wage disparity between, corporate and public accounting is associated with measures of the relevance and reliability of accounting information. Specifically, pay disparity within corporate accounting is associated with a significant reduction in earnings persistence, in the earnings-returns relationship, in the accruals-cashflow relationship, and with higher levels of absolute abnormal accruals. In tests of pay disparity within the public accounting profession I find evidence of improved information quality associated with higher pay disparity. These findings are consistent with the different structures of employment and career advancement within the corporate and public accounting professions.

Prior research on intra-firm pay disparity suggests intra-firm pay disparity at various hierarchy levels affects firm performance and executive-level pay disparity is related to investment risk in the credit and the equity market. However, none of the studies examine the relationship between CEO-to-worker pay disparity and credit investment risk. The purpose of this study is to investigate the association between CEO-to-worker pay disparity on credit investors' risk assessments. Large CEO-to-worker pay disparity could suggest CEO rent extraction which increases credit risk or effective labor cost management that decreases credit risk. Overall results of this study indicate increased CEO-to-worker pay disparity is associated with a lower cost of debt (a higher probability of credit rating upgrades). This association weakens as the growth rate of average employee pay increases and is more pronounced for labor-intensive firms than for capital-intensive firms, suggesting credit investors incorporate the information about the effectiveness of labor cost management in CEO-to-worker pay disparity in their risk assessments. In addition, the negative relationship between the change in CEO-to-worker pay disparity and the change in the cost of debt is less salient when CEO compensation increases rapidly. Further analysis shows the association is attenuated by increased excessive CEO compensation. The findings indicate credit investors also consider the risk arising from CEO rent extraction when they evaluate CEO-to-worker pay disparity. / Ph. D.

Irrespective of professional experience and educational background, gender pay disparity is a problem in the federal government. Women have to overcome salary barriers, such as agency segregation, position segregation, and invisible barriers known as the glass ceiling and the glass wall. Recent studies have indicated that human capital variables, people skills, discrimination, and policies all contribute to gender pay disparity in America's workforce. However, there are limited studies that focus on the indirect factors that also contribute to gender pay inequality. The purpose of this quantitative research was to investigate the relationship between wages and job responsibility (as defined by an employee's job series) for all federal employees within the GS14 pay grade working in the state of Virginia. The data source for this retrospective study came from the December 2014 archived federal employee records that were retrieved from the Office of Personnel Management website. Ordinary least square regression modeling was used to analyze the data collected from the Office of Personnel Management central personnel data file. The results from the data analysis demonstrated a significant relationship between job responsibility and wages. The results from the data analysis demonstrated that men earned higher wages than did their female counterparts and were given more authority in the technical and professional job series. This study promotes positive social change because it confirms and extends understanding of the gender wage gap in the federal workforce. The findings from this research encourage policy makers to revisit existing policies and implement new policies aimed at ensuring women receive pay equal to their male counterparts.

The implementation of standardized testing has changed education in the United States resulting in a content ripple effect from the higher grades down to preschool-aged children. To match that ripple effect early childhood education can be evaluated and reformed accordingly by exploring many factors that make up the early childhood education system. This manuscript addressed one factor, early childhood teacher preparation, through a synthesis of literature related to the potential benefits of earning a Bachelor of Science degree in Early Childhood Development and Education, or a BS. The theories of early brain development were explored first and then studies of the social components affecting an Early Childhood Educator's, or ECE's, choice in teacher preparation were reviewed. The review then defined and compared the Child Development Associate or CDA, the Associate of Arts degree, or AA, and the BS. Professional recommendations and standards according to the National Association for Young Children, or NAEYC were included to understand how valuable the BS is to these trend setters of the field. The review then explored how the BS is currently being used nationally in a state-funded program known as VPK, utilizing the National Institute for Early Education Research, or NIEER. This data provided a snapshot of the national demand for the BS in the early childhood field. The pay disparities were then correlated with levels of education and compared with primary and upper grade compensation. The final value explored was research of how the BS directly affected results of the quality in the early childhood classroom and teacher-child interactions. These studies used two quality rating scales, the ECERS and CLASS, which were defined and compared. The findings of the synthesized literature review provided understanding of a young field that is growing and implies where further research and change could happen to match the effects of an evolving education system in the United States of America.