Earnings quality in private SMES: Do CEO demographic matter?

François Belot () and Stéphanie Serve
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François Belot: THEMA - Théorie économique, modélisation et applications - UCP - Université de Cergy Pontoise - Université Paris-Seine - CNRS - Centre National de la Recherche Scientifique

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Abstract: This study investigates the impact of CEO demographics on earnings quality for private SMEs. Using a 2012 sample of 30,476 French firms, we first find strong empirical support for a gender effect: female-run firms engage in less earnings management than do male-run firms. This result is consistent with female CEOs being more risk-averse than their male counterparts are when making financial decisions. Second, CEO age is negatively correlated with the magnitude of discretionary accruals, and the relationship between gender and earnings quality is stronger for older CEOs. Overall, our findings suggest that CEO demographics affect the quality of accounting information.

Keywords: small business; earnings management; accruals; gender; CEO characteristics (search for similar items in EconPapers)
Date: 2016-10-13
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Published in SME FINANCING & GOVERNANCE: WHEN INVESTORS & FAMILIES MEET, Université Paris Ouest, Nanterre, Oct 2016, Nanterre, France

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Working Paper: Earnings Quality in Private SMEs: Do CEO Demographics Matter? (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01450998

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