Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 25, 2022 erstellt
Description:
We examine the effect of CEO personal reputational capital on financial misconduct. We find that home CEOs (defined as those who manage firms located within 100 miles of their birthplaces) are associated with significantly less financial misconduct than firms with non-home CEOs. The effect is stronger for home CEOs who spend more time in their home state. Our results are robust to controlling for corporate governance and agency issues. Overall, our evidence suggests that CEOs’ personal reputational capital acts to significantly deter firm financial misconduct