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WHO MANAGES THE FIRM MATTERS:
THE INCREMENTAL EFFECT OF INDIVIDUAL MANAGERS ON ACCOUNTING QUALITY
by
Kara Wells
A Dissertation Presented to the
FACULTY OF THE USC GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORNIA
In Partial Fulfillment of the
Requirements for the Degree
DOCTOR OF PHILOSOPHY
(BUSINESS ADMINISTRATION)
August, 2013
Copyright, 2013 Kara Wells
Object Description
| Title | Who manages the firm matters: the incremental effect of individual managers on accounting quality |
| Author | Wells, Kara |
| Author email | karawell@usc.edu;kara.wells.2012@marshall.usc.edu |
| Degree | Doctor of Philosophy |
| Document type | Dissertation |
| Degree program | Business Administration |
| School | Marshal School of Business |
| Date defended/completed | 2013-04-30 |
| Date submitted | 2013-05-29 |
| Date approved | 2013-05-29 |
| Restricted until | 2013-05-29 |
| Date published | 2013-05-29 |
| Advisor (committee chair) | Subramanyam, K.R. |
| Advisor (committee member) |
DeFond, Mark L. Murphy, Kevin J. |
| Abstract | I investigate whether individual managers have an incremental effect on their firms’ accounting quality (AQ) after controlling for known determinants of AQ, time fixed effects and firm fixed effects. To identify the manager-specific effect on firm AQ, I construct a data set that tracks the movement of 720 managers across firms over the period 1992-2011. Results indicate that individual manager fixed effects explain a statistically and economically significant proportion of the cross-sectional variation in AQ, which is three times larger than that of industry fixed effects and comparable to that of firm fixed effects. Moving from the quartile of most aggressive managers to that of the most conservative managers, results in a 41% improvement in the firms’ AQ. I also examine the consequences of switching between conservative and aggressive managers on the firms’ AQ. Results show that a firm that switches from an aggressive (conservative) manager to a conservative (aggressive) manager increases (decreases) the firm’s AQ by 32% (94%). My study underscores the importance of understanding individual manager styles in the determination of the firms’ AQ. |
| Keyword | accounting quality; accrual quality; manager fixed effects |
| Language | English |
| Format (imt) | application/pdf |
| Part of collection | University of Southern California dissertations and theses |
| Publisher (of the original version) | University of Southern California |
| Place of publication (of the original version) | Los Angeles, California |
| Publisher (of the digital version) | University of Southern California. Libraries |
| Provenance | Electronically uploaded by the author |
| Type | texts |
| Legacy record ID | usctheses-m |
| Contributing entity | University of Southern California |
| Rights | Wells, Kara |
| Physical access | The author retains rights to his/her dissertation, thesis or other graduate work according to U.S. copyright law. Electronic access is being provided by the USC Libraries in agreement with the author, as the original true and official version of the work, but does not grant the reader permission to use the work if the desired use is covered by copyright. It is the author, as rights holder, who must provide use permission if such use is covered by copyright. The original signature page accompanying the original submission of the work to the USC Libraries is retained by the USC Libraries and a copy of it may be obtained by authorized requesters contacting the repository e-mail address given. |
| Repository name | University of Southern California Digital Library |
| Repository address | USC Digital Library, University of Southern California, University Park Campus MC 7002, 106 University Village, Los Angeles, California 90089-7002, USA |
| Repository email | cisadmin@lib.usc.edu |
| Filename | etd-WellsKara-1703.pdf |
| Archival file | uscthesesreloadpub_Volume7/etd-WellsKara-1703.pdf |
Description
| Title | Page 1 |
| Contributing entity | University of Southern California |
| Repository email | cisadmin@lib.usc.edu |
| Full text | WHO MANAGES THE FIRM MATTERS: THE INCREMENTAL EFFECT OF INDIVIDUAL MANAGERS ON ACCOUNTING QUALITY by Kara Wells A Dissertation Presented to the FACULTY OF THE USC GRADUATE SCHOOL UNIVERSITY OF SOUTHERN CALIFORNIA In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSOPHY (BUSINESS ADMINISTRATION) August, 2013 Copyright, 2013 Kara Wells |
