-suite managers. For a sample of S&P 500 firms we find that CEOs and CFOs with accounting and financial expertise appear to manage …-suite managers with accounting/financial expertise via accruals as well as real activities, such as overproducing goods, cutting back …

, leading to optimistic earnings expectations. I hypothesize that managers having incentives to mitigate information loss and … increase in the level of conservatism. Moreover, consistent with managers conveying the effect of conservatism, I find that … to incorporate the effect of accounting conservatism conveyed through managers' earnings guidance when the guidance is …

reduce the demand for conservative financial reporting after replacing managers in the reveal of restatements. Design …, when restating firms make replacement decisions for managers following restatements, they would demand less conservative …

demand for conservative financial reporting after replacing managers in the reveal of restatements …