CEO power and annual report reading difficulty

IF 2.9 3区 管理学 Q2 BUSINESS, FINANCE Journal of Contemporary Accounting & Economics Pub Date : 2022-08-01 DOI:10.1016/j.jcae.2022.100315
Li Sun , Grace Johnson , Wray Bradley
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引用次数: 8

Abstract

We examine the impact of CEO power on reading difficulty of corporate annual reports. We find that CEO power is positively related to reading difficulty, implying that annual reports of corporations with powerful CEOs are difficult to read and understand. More importantly, we find that the relation between CEO power and reading difficulty is moderated by earnings performance or corporate governance. Additional findings suggest that this relation becomes stronger for firms with lower financial reporting quality or for CEOs with shorter tenure. Our study not only joins the debate on the consequences of powerful CEOs but also uncovers several factors that moderate the relation between CEO power and annual report reading difficulty.

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CEO权力与年报阅读难度
我们考察了CEO权力对公司年报阅读难度的影响。我们发现CEO权力与阅读难度正相关,这意味着拥有强大CEO的公司年报难以阅读和理解。更重要的是,我们发现CEO权力与阅读困难之间的关系受到盈利绩效或公司治理的调节。其他研究结果表明,对于财务报告质量较低的公司或任期较短的首席执行官来说,这种关系变得更强。我们的研究不仅加入了关于CEO权力的后果的争论,而且揭示了几个调节CEO权力与年度报告阅读困难之间关系的因素。
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来源期刊
CiteScore
6.00
自引率
3.00%
发文量
24
期刊最新文献
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