|Author:||Chan, Wai Chuen Ricky|
|Title:||Does CEO inside debt affect accounting irregularities?|
|Subject:||Chief executive officers -- Salaries, etc|
Accounting -- Management.
Hong Kong Polytechnic University -- Dissertations
|Department:||Faculty of Business|
|Pages:||97 pages : illustrations|
|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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