Economic Determinants of the Voluntary Adoption of Clawback Provisions in Executive Compensation Contracts Anna Bergman Brown Ph.D. Student Anna.Brown@baruch.cuny.eduPaquita Y. Davis-Friday Associate Professor Paquita.Friday@baruch.cuny.edu Lale Guler Assistant Professor Lale.Guler@baruch.cuny.edu September 2011 Please address correspondence to Lale Guler, Baruch College, Zicklin School of Business, Stan Ross Department of Accountancy, 55 Lexington Ave, New York, NY 10010. Phone: (646) 312-3190. This paper has benefited from comments received from Divya Anantharaman, Ting Chen, Steve Lilien, Joseph Weintrop and workshop participants at the 2 nd Annual Baruch-SWUFE Conference.