Executive Order Number Four, October 26, 2007

Orders that State Agencies achieve and maintain a diverse workforce in state government.

Illusory correlation in the remuneration of chief executive officers: It pays to play golf, and well

Illusory correlation refers to the use of information in decisions that is uncorrelated with the relevantcriterion. We document illusory correlation in CEO compensation decisions by demonstrating thatinformation, that is uncorrelated with corporate performance, is related to CEO compensation. We usepublicly available data from the USA for the years 1998, 2000, 2002, and 2004 to examine the relationsbetween golf handicaps of CEOs and corporate performance, on the one hand, and CEO compensationand golf handicaps, on the other hand. Although we find no relation between handicap and corporateperformance, we do find a relation between handicap and CEO compensation. In short, golfers earnmore than non-golfers and pay increases with golfing ability. We relate these findings to the difficultiesof judging compensation for CEOs. To overcome this and possibly other illusory correlations inthese kinds of decisions, we recommend the use of explicit, mechanical decision rules.

Executive Summary 2007 Iowa Tax Amnesty, 2008

Results of Iowa Tax Amnesty 2007

Audit report on the City of Council Bluffs, Iowa for the year ended June 30, 2007

Audit report on the City of Council Bluffs, Iowa for the year ended June 30, 2007

On the valuation and incentive effects of executive cash bonus contracts

Executive compensation packages are often valued in an inconsistent manner: while employee stock options (ESOs) are typically valued ex-ante, cash bonuses are valued ex-post. This renders the existing valuation models of employee compensation packages theoretically unsatisfactory and, potentially, empirically distortive. In this paper, we propose an option-based framework for ex-ante valuation of cash bonus contracts. After obtaining closed-form expressions for ex-ante values of several frequently used types of bonus contracts, we utilize them to explore the e¤ects that the shape of a bonus contract has on the executive s attitude toward risk-taking. We, also, study pay-performance sensitivity of such contracts. We show that the terms of a bonus contract can dramatically impact both risk-taking behavior as well as pay-performance incentives. Several testable predictions are made, and venues of future research outlined.

Audit report on the Iowa Egg Council for the years ended June 30, 2007 and 2006

Audit report on the Iowa Egg Council for the years ended June 30, 2007 and 2006

Executive Order Number Six, February 21, 2008

Establishes a Green Government Initiative for the State of Iowa.

Report on the Community Development Block Grant Program administered by the Southern Iowa Council of Governments (Council) for the period October 1, 2003 through September 30, 2007

Report on the Community Development Block Grant Program administered by the Southern Iowa Council of Governments (Council) for the period October 1, 2003 through September 30, 2007

Report on the Iowa School for the Deaf, Council Bluffs, Iowa for the year ended June 30, 2007

Report on the Iowa School for the Deaf, Council Bluffs, Iowa for the year ended June 30, 2007

Executive Order Number Seven, June 27, 2008

This Executive Order establishes an Iowa Task Force to Rebuild Iowa, after the storms and flood in May and June of 2008.

Executive Order Number Eight, July 16, 2008

This Executive Order establishes an Independent Contractor Reform Task Force.

Audit report on the Iowa Turkey Marketing Council for the years ended December 31, 2007 and 2006

Audit report on the Iowa Turkey Marketing Council for the years ended December 31, 2007 and 2006

Executive Order Number Nine, November 7, 2008

This Executive Order directs IFA to administer the allocation of additional tax-exempt bonding authority provided by the Disaster Relief Act, develop administrative rules to implement the allocation of this additional tax-exempt bonding authority, track the allocation of the additional tax-exempt bonding authority to ensure compliance with all applicable federal law, and provide all necessary reports to the IRS.