Does CEO inside debt affect accounting irregularities?

Pao Yue-kong Library Electronic Theses Database

Does CEO inside debt affect accounting irregularities?

 

Author: Chan, Wai Chuen Ricky
Title: Does CEO inside debt affect accounting irregularities?
Degree: D.B.A.
Year: 2015
Subject: Chief executive officers -- Salaries, etc
Accounting -- Management.
Corporate debt.
Hong Kong Polytechnic University -- Dissertations
Department: Faculty of Business
Pages: 97 pages : illustrations
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2890573
URI: http://theses.lib.polyu.edu.hk/handle/200/8460
Abstract: This thesis examines the effect of CEO inside debt holdings on accounting irregularities. Using a sample of 10133 firm-year observations from 2006 to 2013, I find that higher CEO inside debt holdings is associated with lower likelihood of earnings misstatement and lower incidence of accounting restatement. I also find that this effect of CEO inside debt holdings is more pronounced for firms with high leverage, large firms and firms with poor corporate governance. The additional tests reveal that (1) the main results continue to hold when I re-run the main regression using a two-stage least-squares regression; (2) the pension component of CEO inside debt holdings plays a stronger role in restricting accounting irregularities; (3)CEOs with large inside debt holdings engage in less earnings management; (4) the effect of CEO inside debt holdings does not differ between financial crisis period and nonfinancial crisis period.

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