Economic consequences of unqualified chief accounting officer announcements

Shih-Bin Wu and Wu-Po Liu

Applied Economics Letters, 2022, vol. 29, issue 14, 1256-1260

Abstract: This study investigates market reactions to announcements of chief accounting officer (CAO) unqualifications. Using 61 Taiwanese observations from 2006 to 2020, we find negative market reactions prior to unqualified CAO announcements. Our results also show that markets react more negatively when unqualified CAOs are female. This study suggests potential information leakage and provides implications for regulators and market participants.

Date: 2022
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DOI: 10.1080/13504851.2021.1925214

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