Accounting scholars theorize that audit price is a function of a client's audit and business risk. Existing research finds that the functional expertise of Chief Executive Officers (CEOs) in finance improves financial reporting quality (Matsunaga, Wang, and Yeung 2013), increases profitability,...

Research Question/Issue: This study examines the extent to which newly-hired migrating executives affect shareholder reaction at their arriving firms. We draw upon the information economics and upper echelons literatures to explain how (1) deviant behavior and ability information cues from an...