AIA submission: CEO overconfidence and the incidence of financial restatement

被引：28

作者：

Presley, Theresa J. ^{[1
]}

Abbott, Lawrence J. ^{[2
]}

机构：

[1] Kansas State Univ, Coll Business Adm, Dept Accounting, 109 Calvin Hall, Manhattan, KS 66506 USA

[2] Univ Wisconsin, Lubar Sch Business 326H, Milwaukee, WI 53201 USA

来源：

ADVANCES IN ACCOUNTING | 2013年 / 29卷 / 01期

关键词：

Restatement; CEO overconfidence; Rationalization;

D O I：

10.1016/j.adiac.2013.03.007

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The role of the Chief Executive Officer (hereafter, CEO) in financial reporting is almost universally assumed to be significant (Carcello, Neal, Palmrose & Scholz, 2011; Cohen, Krishnamoorthy, & Wright, 2002; Connelly, 2005; Paredes, 2004). While academics and regulators agree that the CEO can have a large impact on financial reporting decisions, there is very little research on how individual CEO characteristics actually influence the financial reporting process. This paper examines the impact of one such CEO characteristic - CEO overconfidence - on the incidence of financial restatement. We utilize a matched-pairs research design consisting of 75 restatement firms (obtained through the GAO restatement sample) and a set of 75 non-restatement control firms. Using an options-based measure of CEO overconfidence developed by Malmendier and Tate (2008), we document a statistically significant positive relation between CEO overconfidence and financial statement restatement. (C) 2013 Elsevier Ltd. All rights reserved.

引用

页码：74 / 84

页数：11

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