Feng, Mei; Ge, Weili; Luo, Shuqing; Shevlin, Terry - In: Journal of Accounting and Economics 51 (2011) 1, pp. 21-36
This paper examines why CFOs become involved in material accounting manipulations. We find that while CFOs bear … substantial legal costs when involved in accounting manipulations, these CFOs have similar equity incentives to the CFOs of … accounting manipulations because they succumb to pressure from CEOs, rather than because they seek immediate personal financial …