In this paper we investigate whether trading by CEOs and CFOs is motivated by contrarian beliefs or superior information about future cash flow realizations. We find that even though both CEOs and CFOs earn significant abnormal returns following their trades, CFO trades are associated with...

This paper presents a model in which the CEO generates productive output while the CFO oversees a reporting system that provides information useful for monitoring, decision-making, and contracting, but is also subject to costly manipulation. Because the reporting system serves multiple roles,...

We examine whether chief financial officers (CFOs) with accounting backgrounds (accountant CFOs) are associated with more conservative corporate outcomes. We find that, in high-growth industries, firms with accountant CFOs invest less in research and development and capital expenditures and are...

M became CFO of Monolithic Power Systems, Inc. (MPWR-$61.21) in 2011. Since 2004, MPS' $184.1 million spent on buybacks boosted its share price by about $6.54, roughly a 12.0% benefit. A fraction of that was earned on CFO M's watch.In October 2012, with MPS trading at $18.00, a Cashless...

CFOs wear many hats, as the primary agents responsible for financial reporting and control and as strategic partners within firms' top management teams. This paper uses an agency model to investigate how the role and responsibilities of the CFO affect reporting quality, firm value, and incentive...

In this study, we examine how norms about the use of negotiation strategies by different parties in an auditor-client negotiation influence the relative efficacies of these negotiation strategies. We conduct an experiment with experienced auditors/financial managers as participants, who enter...

We study whether relative power in the CEO-CFO relationship influences CEO compensation. To operationalize relative power of a CEO over a CFO, we define CFO co-option as the appointment of a CFO after a CEO assumes office. We find that CFO co-option is associated with a CEO pay premium of about...

The purpose of this study is to examine the factors influencing the use of cost management systems (CMS) for decision-making, control and performance evaluation. An empirical survey via questionnaires was conducted on a sample of 100 leading hotels enterprises in Greece. Results indicate that...