期刊
ADVANCES IN ACCOUNTING
卷 58, 期 -, 页码 -出版社
ELSEVIER
DOI: 10.1016/j.adiac.2022.100613
关键词
CEO power; Discontinued operations; Likelihood of discontinued operations; Magnitude of discontinued operations
There is a significant positive relationship between CEO power and discontinued operations, suggesting that more powerful CEOs are more likely to discontinue business operations and report a larger magnitude of discontinued operations.
Using a sample of 3678 firm-year observations with discontinued operations from 1992 to 2019, and a matched sample of 3678 observations without discontinued operations, we find a significant positive relationship between CEO power and discontinued operations, measured as the likelihood and magnitude of discontinued operations. Our results suggest that more powerful CEOs are more likely to discontinue business operations and report a larger magnitude of discontinued operations than less powerful CEOs.
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