CEO Connectedness and Firm Transparency

IF 2.1 3区经济学 Q2 BUSINESS, FINANCE

European Financial Management Pub Date : 2024-11-07 DOI:10.1111/eufm.12527

Hoa Luong, Kristina Minnick, Mia L. Rivolta, Syed Shams

引用次数: 0

Abstract

Our research reveals that CEO connections with Audit Committee directors, established through past employment, education, or social organization memberships, significantly impact firm transparency. These connections increase the likelihood of firms issuing less transparent and readable financial reports. Furthermore, these connections are linked to decreased long-term firm value and increased crash risk. Our findings underscore the crucial role of CEO connectedness in corporate disclosure transparency and firm value. We employed multiple methodologies to address endogeneity concerns. Our results remain robust.

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CEO连通性和公司透明度

我们的研究表明，CEO与审计委员会董事的关系（通过过去的工作、教育或社会组织成员关系建立）显著影响公司透明度。这些联系增加了公司发布不透明和可读财务报告的可能性。此外，这些联系与公司长期价值下降和崩溃风险增加有关。我们的研究结果强调了CEO联系在公司信息披露透明度和公司价值中的关键作用。我们采用了多种方法来解决内生性问题。我们的业绩依然强劲。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

European Financial Management BUSINESS, FINANCE-

CiteScore

4.30

自引率

18.20%

发文量

期刊介绍： European Financial Management publishes the best research from around the world, providing a forum for both academics and practitioners concerned with the financial management of modern corporation and financial institutions. The journal publishes signficant new finance research on timely issues and highlights key trends in Europe in a clear and accessible way, with articles covering international research and practice that have direct or indirect bearing on Europe.