Top Executives Social Connectedness and the Quality of Financial Reporting: Evidence from Executives’ Golf Playing Activities
碩士 === 國立中正大學 === 會計與資訊科技研究所 === 105 === This study examines whether the social activities of top executives affect the quality of financial reporting, based on the golfing activity data of top executives of S&P 1500 firms in 2015. The empirical results show that the interaction term of CEO mem...
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| Format: | Others |
| Language: | zh-TW |
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2017
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| Online Access: | http://ndltd.ncl.edu.tw/handle/m7s5we |
| Summary: | 碩士 === 國立中正大學 === 會計與資訊科技研究所 === 105 === This study examines whether the social activities of top executives affect the quality of financial reporting, based on the golfing activity data of top executives of S&P 1500 firms in 2015.
The empirical results show that the interaction term of CEO membership and CFO membership has negative impact on firms’ discretionary accrual (DA), while the CEO membership and CFO membership dummies do not have any significant main impact on DA. This finding suggests that the golfing interaction between CEO and CFO can help mitigate earnings manipulation problem. Moreover, firms tend to have large DA when their CFOs are better golfer with better skills. This result is consistent with the argument that an overconfident CFO will tend to exercise larger influence over earnings management. In this situation, the earnings manipulation problem should be concerned.
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