CEO cultural heritage and the pricing of audit services
Anh Viet Pham,
Mia Hang Pham and
Journal of Business Finance & Accounting, 2022, vol. 49, issue 1-2, 181-214
We construct preferences toward risk and uncertainty as reflected in the cultural heritage of chief executive officers (CEOs) managing public firms in the United States. We demonstrate that auditors take into account the cultural traits of CEOs in the pricing of their audit services. We also show that CEO cultural heritage is associated with a firm's misreporting, internal control weakness, and accounting conservatism. The results are robust to controlling for other known attributes of CEOs, firm characteristics, and corporate governance. Our study contributes to research on corporate risk culture, CEO characteristics, and determinants of the pricing of audit services and financial reporting quality.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jbfnac:v:49:y:2022:i:1-2:p:181-214
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