While the popular press has documented Chief Financial Officer (CFO) role expansion into traditional operations functions, recent research suggests that time spent on non-core CFO activities harms financial reporting quality. We examine the operational acumen of CFOs and the potential negative...

A well-known implication of microeconomic theory is that sunk costs should have no effect on decision making. We test this hypothesis with a human-subjects experiment. Students recruited from graduate business courses, with an average of over six years of work experience, played the role of...