CEO tenure and corporate misconduct: Evidence from US banks

被引：41

作者：

Altunbas, Yener ^{[1
]}

Thornton, John ^{[1
,2
]}

Uymaz, Yurtsev ^{[3
]}

机构：

[1] Bangor Univ, Business Sch, Coll Rd, Bangor LL57 2DG, Gwynedd, Wales

[2] US Dept Treasury, Off Tech Assistance, 1750 Penn Ave NW, Washington, DC 20006 USA

[3] Univ East Anglia, Norwich Business Sch, Earlham Rd, Norwich NR4 7TJ, Norfolk, England

来源：

FINANCE RESEARCH LETTERS | 2018年 / 26卷

关键词：

Corporate misconduct; CEO tenure; US banks; Probit; Bivariate; OVERCONFIDENCE; PERFORMANCE; FRAUD; BOARD; CONSEQUENCES; DETERMINANTS; INCENTIVES; GOVERNANCE; IMPACT;

D O I：

10.1016/j.frl.2017.11.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We test for a link between CEO tenure and misconduct by US banks. We find that banks are more likely to commit misconduct when CEOs have a relatively long tenure and banks have relatively poor balance sheets. Large and independent corporate boards can mitigate but not prevent misconduct.

引用

页码：1 / 8

页数：8

共 36 条

[1] Powerful CEOs and their impact on corporate performance [J].

Adams, RB ;

Almeida, H ;

Ferreira, D .

REVIEW OF FINANCIAL STUDIES, 2005, 18 (04) :1403-1432

[2] Corporate governance and accounting scandals [J].

Agrawal, A ;

Chadha, S .

JOURNAL OF LAW & ECONOMICS, 2005, 48 (02) :371-406

[3] Corporate litigation and executive turnover [J].

Aharony, Joseph ;

Liu, Chelsea ;

Yawson, Alfred .

JOURNAL OF CORPORATE FINANCE, 2015, 34 :268-292

[4]

Alexander C.R., 1999, J CORP FINANC, V5, P1

[5] CEO tenure and earnings management [J].

Ali, Ashiq ;

Zhang, Weining .

JOURNAL OF ACCOUNTING & ECONOMICS, 2015, 59 (01) :60-79

[6]

[Anonymous], HDB EC GROWTH

[7] Chief Executive Officer Equity Incentives and Accounting Irregularities [J].

Armstrong, Christopher S. ;

Jagolinzer, Alan D. ;

Larcker, David F. .

JOURNAL OF ACCOUNTING RESEARCH, 2010, 48 (02) :225-271

[8] Paying the piper: An empirical examination of longer-term financial consequences of illegal corporate behavior [J].

Baucus, MS ;

Baucus, DA .

ACADEMY OF MANAGEMENT JOURNAL, 1997, 40 (01) :129-151

[9] CRIME AND PUNISHMENT - ECONOMIC APPROACH [J].

BECKER, GS .

JOURNAL OF POLITICAL ECONOMY, 1968, 76 (02) :169-217

[10] The credit crisis around the globe: Why did some banks perform better? [J].

Beltratti, Andrea ;

Stulz, Rene M. .

JOURNAL OF FINANCIAL ECONOMICS, 2012, 105 (01) :1-17

← 1 2 3 4 →