Extant literature documents a positive association between ex ante severance pay and timeliness of bad news disclosure, suggesting that the provision of severance pay is consistent with efficient contracting. Relying on an empirically unexplored theory, we investigate whether and how managerial...

In this paper, we examine how CEO succession and succession planning affect perceptions of financial reporting risk among stakeholders who are responsible for and oversee firms' financial reporting (e.g., auditors, management, and audit committees). Management succession introduces uncertainty...

Upper echelon theory posits that defining, executing, and overseeing an organization’s strategy is a shared activity among top executive teams. Based upon this perspective, we explore whether greater turnover among the members of a firms’ top executive group other than those with direct...