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The Relationship Between CFO Characteristics and Firm Performance

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The Relationship Between CFO Characteristics and Firm Performance

Zhang, Ya (2019) The Relationship Between CFO Characteristics and Firm Performance. Masters thesis, Concordia University.

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Abstract

This paper focuses on the relationship between Chief Financial Officers’ (CFO) characteristics and firm performance. Using a sample of S&P 500 firms, the evidence found suggests that the demographic and experience-related characteristics of CFOs as well as their compensation can be associated with their firms’ market valuation, profitability and risk level. The reported results indicate a negative relationship between the presence of female and firm valuation as well as profitability. Firms with an experienced CFO tend to have better performance and lower risk levels. CFOs with a master or higher educational degrees seem to have better risk management skills than their counterparts. Interestingly, some limited evidence indicates a negative relation between the CFO’s age and firm performance. In addition, being a CFO with a Certified Public Accountant (CPA) designation has not been found to significantly affect firm performance.

Divisions:Concordia University > John Molson School of Business > Finance
Item Type:Thesis (Masters)
Authors:Zhang, Ya
Institution:Concordia University
Degree Name:M. Sc.
Program:Finance
Date:16 September 2019
Thesis Supervisor(s):Ullah, Saif
ID Code:985985
Deposited By: Ya Zhang
Deposited On:19 Dec 2019 14:30
Last Modified:19 Dec 2019 14:30
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