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Is Accounting Education Valued by the Stock Market? Evidence from Corporate Controller Appointments *

Is Accounting Education Valued by the Stock Market? Evidence from Corporate Controller... Contemporary Accounting Research Vol. 26 No. 4 (Winter 2009) pp. 1143–74 © CAAA doi:10.1506/car.26.4.6 Contemporary Accounting Research A distinct yet related debate has focused on the importance of accounting knowledge, acquired through either education or practical experience, for senior decision-makers in particular. This debate has been fuelled by a series of wellpublicized financial reporting scandals involving corporate executives, and the ensuing Sarbanes-Oxley Act of 2002 (SOX) regulation (e.g., Securities and Exchange Commission [SEC] 2002, 2003). Early related research studied the link between general financial expertise and decision-making quality for audit committee members (e.g., Abbott, Parker, and Peters 2004; Carcello, Hermanson, Neal, and Riley 2002). One important issue that emerged from this line of work is whether accounting-specific expertise has a distinct effect on senior financial decision-makers beyond general financial expertise. DeFond, Hann, and Hu (2005) contribute to this debate by showing that the market perceives financial expertise differently depending on whether it is accounting-specific.1 Along these lines, a relevant and interesting issue that has not been addressed by prior work pertains to the separate roles of practical accounting experience and accounting education as determinants of accounting expertise. More specifically, other things equal, it is a priori unclear whether http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Contemporary Accounting Research Wiley

Is Accounting Education Valued by the Stock Market? Evidence from Corporate Controller Appointments *

Contemporary Accounting Research , Volume 26 (4) – Dec 1, 2009

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References (80)

Publisher
Wiley
Copyright
2009 Canadian Academic Accounting Association
ISSN
0823-9150
eISSN
1911-3846
DOI
10.1506/car.26.4.6
Publisher site
See Article on Publisher Site

Abstract

Contemporary Accounting Research Vol. 26 No. 4 (Winter 2009) pp. 1143–74 © CAAA doi:10.1506/car.26.4.6 Contemporary Accounting Research A distinct yet related debate has focused on the importance of accounting knowledge, acquired through either education or practical experience, for senior decision-makers in particular. This debate has been fuelled by a series of wellpublicized financial reporting scandals involving corporate executives, and the ensuing Sarbanes-Oxley Act of 2002 (SOX) regulation (e.g., Securities and Exchange Commission [SEC] 2002, 2003). Early related research studied the link between general financial expertise and decision-making quality for audit committee members (e.g., Abbott, Parker, and Peters 2004; Carcello, Hermanson, Neal, and Riley 2002). One important issue that emerged from this line of work is whether accounting-specific expertise has a distinct effect on senior financial decision-makers beyond general financial expertise. DeFond, Hann, and Hu (2005) contribute to this debate by showing that the market perceives financial expertise differently depending on whether it is accounting-specific.1 Along these lines, a relevant and interesting issue that has not been addressed by prior work pertains to the separate roles of practical accounting experience and accounting education as determinants of accounting expertise. More specifically, other things equal, it is a priori unclear whether

Journal

Contemporary Accounting ResearchWiley

Published: Dec 1, 2009

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