CEO power and discontinued operations

Li Sun and Christopher J. Skousen

Advances in accounting, 2022, vol. 58, issue C

Abstract: Using a sample of 3678 firm-year observations with discontinued operations from 1992 to 2019, and a matched sample of 3678 observations without discontinued operations, we find a significant positive relationship between CEO power and discontinued operations, measured as the likelihood and magnitude of discontinued operations. Our results suggest that more powerful CEOs are more likely to discontinue business operations and report a larger magnitude of discontinued operations than less powerful CEOs.

Keywords: CEO power; Discontinued operations; Likelihood of discontinued operations; Magnitude of discontinued operations (search for similar items in EconPapers)
JEL-codes: G30 G39 M40 M49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:advacc:v:58:y:2022:i:c:s0882611022000323

DOI: 10.1016/j.adiac.2022.100613

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