Winning an Award Could Set You Free: the CFO Labor Market and Financial Reporting Quality

Wu, Qinxi

doi:10.2139/ssrn.4210788

Cited by 2 publications

(2 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In addition, in contrast to confirming prior evidence that CEOs with strong incentives are more likely to manage earnings, they show that this effect is significantly less pronounced in the presence of resistant CFOs. Similarly, Wu (2019) investigates how the balance of power between CEOs and CFOs influences the use of earnings management. They find that CFOs experience a sharp increase in career opportunities following the receipt of awards (a proxy for CFO power), and that firms whose CFOs were awarded engage in less earnings management, consistent with a positive effect of CFO power.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

An Empirical Investigation of the Effect of CFO Power on Disclosure Quality

Ferdous

Ahmed

Henry

2023

Abacus

View full text Add to dashboard Cite

We examine the association between chief financial officer (CFO) power and disclosure quality, measured using financial statement disaggregation disclosure and analyst forecast disclosure. Empirically, we validate that CFO power, measured by multiple dimensions, is positively associated with firms' disclosure quality. We also find that this positive association between CFO power and disclosure quality is stronger when firms exhibit higher governance monitoring and accounting quality. Further analysis shows that our main results hold across multiple disclosure quality tests. Our findings are robust to addressing endogeneity issues using two-stage least squares, Heckman selection bias, and propensity score matching analyses. The results highlight the importance of CFO power for the accounting reporting process and decision-making.

show abstract

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

An Empirical Investigation of the Effect of CFO Power on Disclosure Quality

Ferdous

Ahmed

Henry

2023

Abacus

View full text Add to dashboard Cite

show abstract

“…Following Malmendier and Tate (2009), the topic of superstar CEOs has been discussed by a great number of authors in literature (Ammann et al, 2016; Atanassov & Park, 2020; Shemesh, 2017). The influence of CFOs winning national awards is also investigated (Wu, 2019). The author finds a positive relationship between CFOs who win awards and their career opportunities, and a negative relationship between awardee firms and their discretionary accruals.…”

Section: Introductionmentioning

confidence: 99%

Are superstar directors effective in corporate social responsibility performance? An empirical analysis of sustainable development goals

Cheng

2022

Corp Soc Responsibility Env

View full text Add to dashboard Cite

In this paper, I adopt a hand-collected sample of prestigious business award-winner directors based on four types of awards and use it to represent reputable directors.I examine how awardee directors influence corporate social responsibility performance (CSR) using multiple samples. The results show that with award-winner directors sitting on their boards, firms tend to have higher CSR scores. The findings are consistent in the propensity score matched sample and additional robustness tests. The findings suggest that reputable directors are effective in performing monitoring and advising duties, which in turn leads to better CSR performance.

show abstract

Winning an Award Could Set You Free: the CFO Labor Market and Financial Reporting Quality

Cited by 2 publications

References 0 publications

An Empirical Investigation of the Effect of CFO Power on Disclosure Quality

An Empirical Investigation of the Effect of CFO Power on Disclosure Quality

Are superstar directors effective in corporate social responsibility performance? An empirical analysis of sustainable development goals

Contact Info

Product

Resources

About