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Firm-manager matching and the costs and benefits of hiring an accounting expert CFO



Publishing details

Social Sciences Research Network

Publication Year



We examine the firm and industry characteristics associated with hiring accounting expert CFOs to provide evidence on the costs and benefits to firms that hire these CFOs. Our findings suggest that acquiring accounting expertise requires a costly tradeoff in terms of acquiring other skills, including operational knowledge and strategic expertise. We find that this tradeoff is reflected in firms’ hiring decisions ex ante and affects the structure of the top management team ex post. The study contributes to the literature on firm-manager matching and complements prior work that studies the beneficial effects of CFO accounting expertise on reporting outcomes.


Social Sciences Research Network

Available on ECCH


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