자료유형  

 학위논문

Control Number  

0016934486

International Standard Book Number  

9798380483025

Dewey Decimal Classification Number  

300

Main Entry-Personal Name  

Spector, Ido.

Publication, Distribution, etc. (Imprint  

[S.l.] : Stanford University., 2023

Publication, Distribution, etc. (Imprint  

Ann Arbor : ProQuest Dissertations & Theses, 2023

Physical Description  

1 online resource(110 p.)

General Note  

Source: Dissertations Abstracts International, Volume: 85-04, Section: A.

General Note  

Advisor: Kasznik, Ron;Goldberg, Amir;McNichols, Maureen.

Dissertation Note  

Thesis (Ph.D.)--Stanford University, 2023.

Restrictions on Access Note  

This item must not be sold to any third party vendors.

Summary, Etc.  

요약This multidisciplinary thesis explores CEOs' financial reporting and investment decisions by synthesizing insights from accounting, finance, sociology, criminology, and anthropology research. The thesis includes two independent chapters, and the first chapter constitutes the primary essay. The first chapter investigates the association between CEOs' social-class origin and propensity to commit financial reporting fraud. The chapter is motivated by criminological and sociological theories suggesting a higher social-class origin can both stimulate and restrain criminality. I find that whereas CEOs accused by the SEC of committing fraud are more likely to come from poor and working-class backgrounds, CEOs without fraud allegations are more likely to come from middle- and upper-class backgrounds. The pattern continues to hold in a subsample of founder CEOs, suggesting selection in the labor market is unlikely to explain the association between CEOs' social-class origin and financial reporting fraud. In addition, I do not find evidence that bias in the SEC's enforcement decisions drives the association. Echoing criminological theory, I find CEOs' educational background mediates the association between social-class origin and financial reporting fraud. This finding suggests that endowed resources such as social connections and academic credentials reduce CEOs' incentives to defraud by providing them with a safety net and increasing their reputational costs.The second chapter is based on an essay coauthored with my advisor, Ron Kasznik. It investigates the association between target firms' receptiveness to being acquired in mergers and acquisition transactions (M&A) and their CEOs' adherence to cultural norms enshrining the protection of personal honor. Our hypothesis that target CEOs' adherence to honor may explain the receptiveness to M&A is motivated by anthropological evidence suggesting men who grew up in societies that developed a culture of honor feel obliged to retaliate whenever their status and property are threatened. Consistent with this narrative, we find targets with CEOs who grew up in states with a culture of honor are more likely to repeatedly engage in withdrawn deals without being acquired-suggesting a lower receptiveness to M&A. The pattern continues to hold in a subsample of founder CEOs. Focusing on CEO transitions, we find targets are less likely to be acquired when they have a CEO from an honor state than a CEO from a nonhonor state. Together, these findings suggest selection in the labor market and omitted firm characteristics are unlikely to drive the association between target CEOs' adherence to honor and receptiveness to M&A. Lastly, in support of the honor narrative, we find that among CEOs from honor states, those who grew up in rural areas-where cultural norms enshrining honor were more likely to persist-are the least receptive to M&A.

Subject Added Entry-Topical Term  

Parents & parenting.

Subject Added Entry-Topical Term  

Cheating.

Subject Added Entry-Topical Term  

Criminology.

Subject Added Entry-Topical Term  

Decision making.

Subject Added Entry-Topical Term  

Fraud.

Subject Added Entry-Topical Term  

Individual & family studies.

Added Entry-Corporate Name  

Stanford University.

Host Item Entry  

Dissertations Abstracts International. 85-04A.

Host Item Entry  

Dissertation Abstract International

Electronic Location and Access  

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Control Number  

joongbu:643341