 Does early-life war exposure of a CEO enhance corporate information transparency?Sanghak Choi and Hail Jung Journal of Business Research, 2021, vol. 136, issue C, 198-208 Abstract: This study investigates the relationship between a CEO’s war experience and corporate information transparency. Using the Korean War as an exogenous shock, we find that firms managed by war-exposed CEOs have greater information transparency than firms managed by CEOs who are not war-exposed. Specifically, war-exposed CEOs tend to mitigate information in an asymmetrical fashion as they are more concerned about the potential downside risks. This observation is more pronounced during the global financial crisis. Additionally, war-exposed CEOs who have lived close to the regions where large-scale massacres have occurred seek more information transparency than the CEOs who have lived at a distance from such inhumane experiences. Lastly, we employ regression discontinuity design, propensity score matching, CEO change analysis, and alternative sample regressions to show that the results are not driven by endogeneity concerns. Keywords: Childhood experience; CEO characteristics; Corporate information transparency (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:136:y:2021:i:c:p:198-208 DOI: 10.1016/j.jbusres.2021.07.019 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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