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We study CEO successions to investigate the factors that lead a firm to select an individual with CFO experience for … their CEO and whether appointing a former CFO leads to systematic changes in financial reporting, disclosure, and tax … policies relative to other CEO appointments. Consistent with the “fit/refit” model, we find that the selection of a former CFO …
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We extend prior empirical research on the questions of whether, how much, and under which conditions strategic leaders matter to the fate of their firms. With a 20-year Panel of 110 German firms, our analysis broadens the prevalent focus on CEO influences in U.S. settings. The results indicate...
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