Tone at the top: CEOs' religious beliefs and earnings management

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dc.contributor.authorCai, Yeko
dc.contributor.authorKim, Yongtaeko
dc.contributor.authorLi, Siqiko
dc.contributor.authorPan, Carrieko
dc.date.accessioned2019-10-10T07:30:04Z-
dc.date.available2019-10-10T07:30:04Z-
dc.date.created2019-10-07-
dc.date.issued2019-09-
dc.identifier.citationJOURNAL OF BANKING & FINANCE, v.106, pp.195 - 213-
dc.identifier.issn0378-4266-
dc.identifier.urihttp://hdl.handle.net/10203/267891-
dc.description.abstractDiverging from recent research that focuses on the effect of community religion on corporate outcomes, we study how top executives' personal religiosity affects corporate transparency. Using educational experience in church-affiliated colleges as a proxy for CEOs' religiosity, we show that firms with religious CEOs are associated with significantly less earnings management than firms with non-religious CEOs. Our results are robust to using matched samples and a difference-in-differences analysis based on voluntary CEO turnovers. The effect of CEO religiosity on earnings management is more pronounced when firms use more equity-based CEO compensation or when firms face higher operating cash flows volatility, and the effect is weaker in the post-SOX period. We also find evidence that firms with religious CEOs are less likely to engage in real earnings management. Taken together, our findings suggest an important role of CEOs' religious beliefs in shaping corporate policies. (C) 2019 Elsevier B.V. All rights reserved.-
dc.languageEnglish-
dc.publisherELSEVIER-
dc.titleTone at the top: CEOs' religious beliefs and earnings management-
dc.typeArticle-
dc.identifier.wosid000485855200014-
dc.identifier.scopusid2-s2.0-85068258011-
dc.type.rimsART-
dc.citation.volume106-
dc.citation.beginningpage195-
dc.citation.endingpage213-
dc.citation.publicationnameJOURNAL OF BANKING & FINANCE-
dc.identifier.doi10.1016/j.jbankfin.2019.06.002-
dc.contributor.localauthorKim, Yongtae-
dc.contributor.nonIdAuthorCai, Ye-
dc.contributor.nonIdAuthorLi, Siqi-
dc.contributor.nonIdAuthorPan, Carrie-
dc.description.isOpenAccessN-
dc.type.journalArticleArticle-
dc.subject.keywordAuthorReligion-
dc.subject.keywordAuthorCEO characteristics-
dc.subject.keywordAuthorEamings management-
dc.subject.keywordAuthorEducational experience-
dc.subject.keywordPlusCORPORATE-
dc.subject.keywordPlusOVERCONFIDENCE-
dc.subject.keywordPlusQUALITY-
dc.subject.keywordPlusRISK-
dc.subject.keywordPlusDETERMINANT-
dc.subject.keywordPlusTURNOVER-
dc.subject.keywordPlusDECISION-
dc.subject.keywordPlusABILITY-
dc.subject.keywordPlusREAL-
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