Please use this identifier to cite or link to this item:
Full metadata record
DC FieldValueLanguage
dc.contributor.authorGomulya, Daviden
dc.contributor.authorBoeker, Warrenen
dc.identifier.citationGomulya, D., & Boeker, W. (2014). How firms respond to financial restatement : CEO successors and external reactions. Academy of management journal, 57(6), 1759-1785.en
dc.description.abstractAlthough past studies have paid considerable attention to firms' reputations, few have investigated the actions that firms take following a reputation-damaging event. We identify firms involved in financial earnings restatements and examine whether naming a successor CEO with specific qualities serves to signal the seriousness of a firm's efforts to restore its reputation. Using theories of market signaling, we argue that attributes of successor CEOs significantly influence the reactions of key external constituencies. In particular, firms with more severe restatement tend to name successors who have prior CEO or turnaround experience and a more elite education. The naming of such successors results in more positive reactions from the stock market, financial analysts, and mass media. We argue that these attributes send messages to stakeholders and the broader public about the CEO's credibility and the firm's efforts.en
dc.relation.ispartofseriesAcademy of management journalen
dc.rights© 2014 Academy of Management Journal.en
dc.titleHow firms respond to financial restatement : CEO successors and external reactionsen
dc.typeJournal Articleen
dc.contributor.schoolCollege of Business (Nanyang Business School)en
item.fulltextNo Fulltext-
Appears in Collections:NBS Journal Articles

Google ScholarTM



Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.