To provide insight into how CEOs aggregate information from different sources to accurately forecast earnings, we examine the relation between CEO network size and management forecast accuracy. We find a negative relation between the size of the CEO’s network and management forecast error and...

We investigate whether potential pension contracting benefits lead institutions that provide pension services to acquire ownership blocks in firms and the implications of such blockholdings on the firms' corporate governance. We use the 2006 Pension Protection Act, which expanded pension...

We study CEO successions to investigate the factors that lead a firm to select an individual with CFO experience for their CEO and whether appointing a former CFO leads to systematic changes in financial reporting, disclosure, and tax policies relative to other CEO appointments. Consistent with...

We use a 2006 Securities and Exchange Commission regulation that requires firms to disclose the numerical target for executive bonus plans to examine how firm-specific measures of proprietary costs and board member's reputation concerns influence a firm's disclosure decisions. Using a composite...

We provide evidence that the presence of technical expertise in a firm's governance structure allows the firm to reduce reliance on contractual incentives to control the potential agency problem. Specifically, we find that firms with a board finance committee, or a Chief Executive Officer (CEO)...