CEO-CFO Tenure Consistency and Cash Holdings

Yongbin Cai and Mengzhe Li

Emerging Markets Finance and Trade, 2022, vol. 58, issue 12, 3554-3566

Abstract: This study investigates whether CEO-CFO tenure consistency impacts corporate cash holdings. We find that a company’s cash holdings increase when CEO and CFO have the same tenure. The positive relationship between CEO-CFO tenure consistency and cash holdings is more obvious in companies with CEO duality, a smaller proportion of independent directors, and more serious agency problems. Further evidence shows that CEO-CFO tenure consistency decreases the value of cash holdings.

Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2022.2058929 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:58:y:2022:i:12:p:3554-3566

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2022.2058929

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().