Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Bücher
Zeitschriften
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
SLX-Digitalkonferenz: Zukunftswerkstatt 2024

Mehr Umsatz mit Top-Kontakten

Am 7. Mai erfahren Sie, wie Vertriebsteams Leadgenerierung, Leadnurturing und Leadstrategien effizient steuern können.
Erweiterte Suche
Anmelden
nach oben
Journal of Business Ethics
Erschienen in: Journal of Business Ethics 2/2015

01.03.2015

CEO Gender, Ethical Leadership, and Accounting Conservatism

verfasst von: Simon S. M. Ho, Annie Yuansha Li, Kinsun Tam, Feida Zhang

Erschienen in: Journal of Business Ethics | Ausgabe 2/2015

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

Since male CEOs dominate corporate leadership, the literature on top management decision making suffers from an implicit masculine bias. Although research indicates that males and females are biologically and psychologically different, the leadership characteristics of female CEOs are largely unexplored. Two of these characteristics, risk aversion and ethical sensitivity, are tied to key accounting issues, such as conservatism in financial reporting and steadfast opposition to fraud. In this study, we examine the relationship between CEO gender and accounting conservatism, and find a positive association between the two. Consistent with conventional wisdom, this association appears to be stronger in firms with high rather than low litigation and takeover risks. This study contributes to the ethics literature by highlighting the benefits of gender diversity in upholding the integrity of financial reporting.
Vorheriger Artikel Tugging on Heartstrings: Shopping Orientation, Mindset, and Consumer Responses to Cause-Related Marketing
Nächster Artikel Does Honesty Result from Moral Will or Moral Grace? Why Moral Identity Matters

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Anhänge
Nur mit Berechtigung zugänglich
Fußnoten
1
Regarding the potential problem of multicollinearity, severe existence of such may lead to low significance of some variables and affect the reliability of some regression coefficients. We used the mean-centering method to determine and lower the VIF values (see Tables 2, 3, 4, 5, 6, 7), and found all these VIF values to be at acceptable levels (i.e., under 3). Further, most calculated tolerance levels were >0.8. Therefore, our findings can be interpreted with a greater degree of confidence.
 
2
We would like to thank one of the reviewers for this suggestion.
 
Literatur
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291–309.CrossRef
Ahmed, A. S., Billings, B. K., Morton, R. M., & Stanford-Harris, M. (2002). The role of accounting conservatism in mitigating bondholder–shareholder conflicts over dividend policy and in reducing debt costs. The Accounting Review, 77(4), 867–890.CrossRef
American Psychiatric Association. (1994). The diagnostic and statistical manual of mental disorders (4th ed.). Washington, DC: American Psychiatric Association.
Arfken, D. E., Bellar, S. L., & Helms, M. M. (2004). The ultimate glass ceiling revisited: The presence of women on corporate boards. Journal of Business Ethics, 50(2), 177–186.CrossRef
Ball, R., Bushman, R. M., & Vasvari, F. P. (2008). The debt-contracting value of accounting information and loan syndicate structure. Journal of Accounting Research, 46(2), 247–287.CrossRef
Ball, R., Kothari, S., & Robin, A. (2000). The effect of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics, 29(1), 1–51.CrossRef
Ball, R., & Shivakumar, L. (2005). Earnings quality in UK private firms: Comparative loss recognition timeliness. Journal of Accounting and Economics, 39(1), 83–128.CrossRef
Ball, R., & Shivakumar, L. (2006). The role of accurals in asymmetrically timely gain and loss recognition. Journal of Accounting Research, 44(2), 207–242.
Barber, B. M., & Odean, T. (2001). Boys will be boys: Gender, overconfidence, and common stock investment. The Quarterly Journal of Economics, 116(1), 261–292.CrossRef
Barsky, R. B., Kimball, M. S., Juster, F. T., & Shapiro, M. D. (1997). Preference parameters and behavioral heterogeneity: An experimental approach in the health and retirement survey. Quarterly Journal of Economics, 112(2), 537–579.
Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics, 24(1), 3–37.CrossRef
Beaver, W. H., & Ryan, S. G. (2005). Conditional and unconditional conservatism: Concepts and modeling. Review of Accounting Studies, 10(2), 269–309.CrossRef
Bebchuk, L., Cohen, A. & Ferrell, A. (2009). What matters in corporate governance? Review of Financial Studies, 22(2), 783–827.
Bergstresser, D., & Philippon, T. (2006). CEO incentives and earnings management. Journal of Financial Economics, 80(3), 511–529.CrossRef
Bernardi, R. A., & Arnold, D. F. (1997). An examination of moral development within public accounting by gender, staff level, and firm. Contemporary Accounting Research, 14(4), 653–668.CrossRef
Bradshaw, P., Murray, V., & Wolpin, J. (1996). Women on boards of nonprofits: What difference do they make? Nonprofit Management and Leadership, 6(3), 241–254.CrossRef
Brown, M. E., & Mitchell, M. S. (2010). Ethical and unethical leadership: Exploring new avenues for future research. Business Ethics Quarterly, 20, 583–616.CrossRef
Brown, M. E., Trevino, L. K., & Harrison, D. A. (2005). Ethical leadership: A social learning perspective for construct development and testing. Organizational Behavior and Human Decision Processes, 97(2), 117–134.CrossRef
Bushman, R. M., Piotroski, J. D., & Smith, A. J. (2011). Capital allocation and timely accounting recognition of economic losses. Journal of Business Finance & Accounting, 38(1–2), 1–33.CrossRef
Byrnes, J. P., Miller, D. C., & Schafer, W. D. (1999). Gender differences in risk taking: A meta-analysis. Psychological Bulletin, 125(3), 367.CrossRef
Campbell, K., & Minguez Vera, A. (2010). Female board appointments and firm valuation: Short and long-term effects. Journal of Management and Governance, 14(1), 37–59.CrossRef
Campbell, K., & Minguez-Vera, A. (2008). Gender diversity in the boardroom and firm financial performance. Journal of Business Ethics, 83(3), 435–451.CrossRef
Chen, H., Chen, J. Z., Lobo, G. J., & Wang, Y. (2010). Association between borrower and lender state ownership and accounting conservatism. Journal of Accounting Research, 48(5), 973–1014.CrossRef
Cheng, Q., & Warfield, T. D. (2005). Equity incentives and earnings management. The Accounting Review, 80(2), 441–476.CrossRef
Chung, H., & Wynn, J. P. (2008). Managerial legal liability coverage and earnings conservatism. Journal of Accounting and Economics, 46(1), 135–153.CrossRef
Costa, P., Terracciano, A., & McCrae, R. R. (2001). Gender differences in personality traits across cultures: Robust and surprising findings. Journal of Personality and Social Psychology, 81(2), 322.CrossRef
Dechow, P. M., & Dichev, I. D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review, 77, 35–59.CrossRef
Eckel, C. C., & Grossman, P. J. (2008). Forecasting risk attitudes: An experimental study using actual and forecast gamble choices. Journal of Economic Behavior & Organization, 68(1), 1–17.CrossRef
Feingold, A. (1994). Gender differences in personality: A meta-analysis. Psychological Bulletin, 116(3), 429.CrossRef
Fine, M. (2009). Women leaders’ discursive constructions of leadership. Women’s Studies in Communication, 32(2), 180–202.CrossRef
Francis, W., Hasan, I., & Qiang, W. (2013). The impact of CFO gender on bank loan contracting. Journal of Accounting, Auditing & Finance, 28(1), 53–78.CrossRef
Francis, J. R., & Martin, X. (2010). Acquisition profitability and timely loss recognition. Journal of Accounting and Economics, 49(1), 161–178.CrossRef
Francis, J., Philbrick, D., & Schipper, K. (1994). Shareholder litigation and corporate disclosures. Journal of Accounting Research, 32(2), 137–164.CrossRef
Francoeur, C., Labelle, R., & Sinclair-Desgagne, B. (2008). Gender diversity in corporate governance and top management. Journal of Business Ethics, 81(1), 83–95.CrossRef
Galbraith, S., & Stephenson, H. B. (1993). Decision rules used by male and female business students in making ethical value judgments: Another look. Journal of Business Ethics, 12(3), 227–233.CrossRef
Givoly, D., & Hayn, C. (2000). The changing time-series properties of earnings, cash flows and accruals: Has financial reporting become more conservative? Journal of Accounting and Economics, 29(3), 287–320.CrossRef
Goh, B. W., & Li, D. (2011). Internal controls and conditional conservatism. The Accounting Review, 86, 975–1005.CrossRef
Gompers, P., Ishii, J., & Metrick, A. (2003). Corporate governance and equity prices. The Quarterly Journal of Economics, 118(1), 107–156.CrossRef
Gong, G., Ke, B., & Yu, Y. (2013). Home country investor protection, ownership structure and cross-listed firms’ compliance with SOX-mandated internal control deficiency disclosures. Contemporary Accounting Research,. doi:10.​1111/​1911-3846.​12000.
Gul, F. A., Srinidhi, B., & Ng, A. C. (2011). Does board gender diversity improve the informativeness of stock prices? Journal of Accounting and Economics, 51(3), 314–338.CrossRef
Hall, J. A. (1990). Nonverbal sex differences: Accuracy of communication and expressive style. Baltimore: Johns Hopkins University Press.
Hirshleifer, D. (2002). Investor psychology and asset pricing. The Journal of Finance, 56(4), 1533–1597.CrossRef
Holthausen, R. W., & Watts, R. L. (2001). The relevance of the value-relevance literature for financial accounting standard setting. Journal of Accounting and Economics, 31(1), 3–75.CrossRef
Hong Kong Economic Journal. (2012, October 7). Institute of Chartered Company Secretaries: Board composition should not have restrictions.
Hu, J., Li, A., & Zhang, F. (2013). Does accounting conservatism improve the corporate information environment? Working paper.
Huang, J., & Kisgen, D. J. (2013). Gender and corporate finance: Are male executives overconfident relative to female executives. Journal of Financial Economics, 108(2013), 822–839.CrossRef
Hunter, S. (2012). (Un)ethical leadership and identity: What did we learn and where do we go from here? Journal of Business Ethics, 107, 79–87.CrossRef
Ibrahim, N., & Angelidis, J. (2009). The relative importance of ethics as a selection criterion for entry-level public accountants: Does gender make a difference? Journal of Business Ethics, 85, 49–58.CrossRef
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360.CrossRef
Jianakoplos, N. A., & Bernasek, A. (2007). Are women more risk averse? Economic Inquiry, 36(4), 620–630.CrossRef
Jiang, J. X., Petroni, K. R., & Wang, I. Y. (2010). CFOs and CEOs: Who have the most influence on earnings management? Journal of Financial Economics, 96(3), 513–526.CrossRef
Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29, 193–228.CrossRef
Khan, M., & Watts, R. L. (2009). Estimation and empirical properties of a firm-year measure of accounting conservatism. Journal of Accounting and Economics, 48(2), 132–150.CrossRef
Kim, B. H., & Pevzner, M. (2010). Conditional accounting conservatism and future negative surprises: An empirical investigation. Journal of Accounting and Public Policy, 29(4), 311–329.CrossRef
Kotiranta, A., Kovalainen, A., & Rouvinen, P. (2007). Female leadership and firm profitability. EVA Analysis, 3, 2007.
Krishnan, G. V., & Parsons, L. M. (2008). Getting to the bottom line: An exploration of gender and earnings quality. Journal of Business Ethics, 78(1–2), 65–76.CrossRef
Lafond, R., & Roychowdhury, S. (2008). Managerial ownership and accounting conservatism. Journal of Accounting Research, 46(1), 101–135.CrossRef
LaFond, R., & Watts, R. L. (2008). The information role of conservatism. The Accounting Review, 83(2), 447–478.CrossRef
Levi, M., Li, K., & Zhang, F. (2008). Mergers and acquisitions: The role of gender. Available at SSRN 1123735.
Levin, I. P., Snyder, M. A., & Chapman, D. P. (1988). The interaction of experiential and situational factors and gender in a simulated risky decision-making task. The Journal of Psychology, 122(2), 173–181.CrossRef
Levy, H., Elron, E., & Cohen, A. (1999). Gender differences in risk taking and investment behavior: An experimental analysis. Unpublished manuscript, The Hebrew University.
Li, J. (2013). Accounting conservatism and debt contracts: Efficient liquidation and covenant renegotiation. Contemporary Accounting Research, 30(3), 1082–1098.
Lückerath-Rovers, M. (2010). Women on boards and firm performance. Journal of Management and Governance, 17(2), 491–509.CrossRef
Lund, D. B. (2008). Gender differences in ethics judgment of marketing professionals in the United States. Journal of Business Ethics, 77(4), 501–515.CrossRef
Lundeberg, M. A., Fox, P. W., & Punćcohaŕ, J. (1994). Highly confident but wrong: Gender differences and similarities in confidence judgments. Journal of Educational Psychology, 86(1), 114.CrossRef
Maccoby, E. E., & Jacklin, C. N. (1974). The psychology of sex differences (Vol. 1). Stanford, CA: Stanford University Press.
Martin, A., Nishikawa, T., & Williams, M. (2009). CEO gender: Effects on valuation and risk. Quarterly Journal of Finance and Accounting, 48(3), 23–40.
Mateos de Cabo, R., Gimeno, R., & Nieto, M. J. (2012). Gender diversity on European banks’ boards of directors. Journal of Business Ethics, 109(2), 145–162.CrossRef
Michalos, A. (1982). Editorial: Purpose and policy. Journal of Business Ethics, 1(3), 255.CrossRef
Michalos, A. (2004). Einstein, ethics and science. Journal of Academic Ethics, 2(4), 339–354.CrossRef
Michalos, A. (2008). Ancient observations on business ethics: Middle East meets West. Journal of Business Ethics, 79(1/2), 9–19.CrossRef
Miethe, T. D., & Rothschild, J. (1994). Whistleblowing and the control of organizational misconduct. Sociological Inquiry, 643(3), 322–347.CrossRef
Moerman, R. (2008). The role of information asymmetry and financial reporting quality in debt trading: Evidence from the secondary loan market: Journal of Accounting and Economics, 46(2-3), 240–260.
Neubert, M. J., Carlson, D. S., Kacmar, K. M., Roberts, J. A., & Chonko, L. B. (2009). The virtuous influence of ethical leadership behavior: Evidence from the field. Journal of Business Ethics, 90(2), 157–170.CrossRef
Niederle, M., & Vesterlund, L. (2007). Do women shy away from competition? Do men compete too much? The Quarterly Journal of Economics, 122(3), 1067–1102.CrossRef
O’Laughlin, E., & Brubaker, B. (1998). Use of landmarks in cognitive mapping: Gender differences in self report versus performance. Personality and Individual Differences, 24(5), 595–601.CrossRef
Paine, L. S. (2003). Value shift: Why companies must merge social and financial imperatives to achieve superior performance. New York: McGraw-Hill.
Pajares, F., & Miller, M. (1994). Role of self-efficacy and self-concept beliefs in mathematical problem solving: A path analysis. Journal of Educational Psychology, 86(2), 193–203.CrossRef
Perez-Quiros, G., & Timmermann, A. (2000). Firm size and cyclical variations in stock returns. The Journal of Finance, 55(3), 1229–1262.CrossRef
Poff, D. (2010). Ethical leadership and global citizenship: Considerations for a just and sustainable future. Journal of Business Ethics, 93(Supplement 1), 9–14.CrossRef
Powell, M., & Ansic, D. (1997). Gender differences in risk behaviour in financial decision-making: An experimental analysis. Journal of Economic Psychology, 18(6), 605–628.CrossRef
Prince, M. (1993). Women, men and money styles. Journal of Economic Psychology, 14(1), 175–182.CrossRef
Prottas, D. (2013). Relationships among employee perception of their manager’s behavioral integrity, moral distress, and employee attitudes and well-being. Journal of Business Ethics, 113, 51–60.CrossRef
Ramalingegowda, S., & Yu, Y. (2012). Institutional ownership and conservatism. Journal of Accounting and Economics, 53(1–2), 98–114.CrossRef
Rodríguez-Domínguez, L., García-Sánchez, I. M., & Gallego-Álvarez, I. (2012). Explanatory factors of the relationship between gender diversity and corporate performance. European Journal of Law and Economics, 33(3), 603–620.CrossRef
Rothschild, J., & Miethe, T. D. (1999). Whistle-blower disclosures and management retaliation: The battle to control information about organizational corruption. Work & Occupations, 26(1), 107–128.CrossRef
Schminke, M., Ambrose, A., & Neubaum, D. (2005). The effect of leader moral development on ethical climate and employee attitudes. Organizational Behavior and Human Decision Processes, 97, 135–151.CrossRef
Schrand, C. M., & Zechman, S. L. C. (2011). Executive overconfidence and the slippery slope to financial misreporting. Journal of Accounting and Economics, 53(1–2), 311–329.
Schubert, R., Brown, M., Gysler, M., & Brachinger, H. W. (1999). Financial decision-making: Are women really more risk-averse? The American Economic Review, 89(2), 381–385.CrossRef
Simga-Mugan, C., Daly, B. A., Onkal, D., & Kavut, L. (2005). The influence of nationality and gender on ethical sensitivity: An application of the issue-contingent model. Journal of Business Ethics, 57(2), 139–159.CrossRef
Stock, J., & Yogo, M. (2005). Testing for weak instruments in IV regression. In D. Andrews & J. Stock (Eds.), Identification and inference for econometric models: A festschrift in honor of Thomas Rothenberg (pp. 80–108). Cambridge, UK: Cambridge University Press.CrossRef
Sugarman, D. and Straus, M. (1988). Indicators of gender equality for American states and regions. Social Indicators Research, 20(3), 229–270.
Tate, G., & Yang, L. (2012). Female leadership and gender equity: Evidence from plant closure. Available at SSRN 1905100.
Trevino, L. K., Hartman, L. P., & Brown, M. (2000). Moral person and moral manager: How executives develop a reputation for ethical leadership. California Management Review, 42(4), 128–142.CrossRef
Valentine, S. R., & Rittenburg, T. L. (2004). Spanish and American business professionals’ ethical evaluations in global situations. Journal of Business Ethics, 51(1), 1–14.CrossRef
Venkataraman, R., Weber, J., & Willenborg, M. (2008). Litigation risk, audit quality, and audit fees: Evidence from initial public offerings. The Accounting Review, 83(5), 1315–1345.CrossRef
Vermeir, I., & Van Kenhove, P. (2008). Gender differences in double standards. Journal of Business Ethics, 81(2), 281–295.CrossRef
Wagner, J. (2007). What a difference a Y makes: Female and male nascent entrepreneurs in Germany. Small Business Economics, 28(1), 1–21.CrossRef
Watts, R. L. (2003). Conservatism in accounting part I: Explanations and implications. Accounting Horizons, 17(3), 207–221.CrossRef
Watts, R., & Zimmerman, J. (1986). Positive accounting theory. Englewood Cliffs, NJ: Prentice-Hall.
Weeks, W. A., Moore, C. W., McKinney, J. A., & Longenecker, J. G. (1999). The effects of gender and career stage on ethical judgment. Journal of Business Ethics, 20(4), 301–313.CrossRef
Zhang, J. (2008). The contracting benefits of accounting conservatism to lenders and borrowers. Journal of Accounting and Economics, 45(1), 27–54.CrossRef
Zhu, W., May, D. R., & Avolio, B. J. (2004). The impact of ethical leadership behavior on employee outcomes: The roles of psychological empowerment and authenticity. Journal of Leadership and Organizational Studies, 11(1), 16–26.CrossRef
Metadaten
Titel
CEO Gender, Ethical Leadership, and Accounting Conservatism
verfasst von
Simon S. M. Ho
Annie Yuansha Li
Kinsun Tam
Feida Zhang
Publikationsdatum
01.03.2015
Verlag
Springer Netherlands
Erschienen in
Journal of Business Ethics / Ausgabe 2/2015
Print ISSN: 0167-4544
Elektronische ISSN: 1573-0697
DOI
https://doi.org/10.1007/s10551-013-2044-0

Weitere Artikel der Ausgabe 2/2015

Journal of Business Ethics 2/2015 Zur Ausgabe

OriginalPaper

Is Corporate Social Responsibility Performance Associated with Tax Avoidance?

Report

Do Personal Values Influence the Propensity for Sustainability Actions? A Policy-Capturing Study

Report

Tugging on Heartstrings: Shopping Orientation, Mindset, and Consumer Responses to Cause-Related Marketing

OriginalPaper

Toward an Ethical Theory of Organizing

OriginalPaper

Linking Market Orientation and Environmental Performance: The Influence of Environmental Strategy, Employee’s Environmental Involvement, and Environmental Product Quality

OriginalPaper

Examining an Individual’s Legitimacy Judgment Using the Value–Attitude System: The Role of Environmental and Economic Values and Source Credibility