Date of Award
Doctor of Philosophy
Theses & amp; dissertations (College of Business)
I examine whether and how CEO political ideology affects risk factor disclosure. Since 2005, the Securities and Exchange Commission (SEC) has required U.S. firms to disclose risk factors in their 10-K filings. While prior studies document that this required disclosure increases the information content of financial reports, there is limited evidence on how Chief Executive Officer (CEO) personality traits influence risk factor disclosure. In this paper, I focus on CEOs' political ideology to proxy for their personality traits. Using CEOs' personal political contributions data to capture their political ideology, I find that firms with Republican-leaning CEOs provide less risk factor information than non-Republican-leaning CEOs. Moreover, I show that firms with Republican-leaning CEOs are less likely to use uncertain tone than non-Republican-leaning CEOs. Cross-sectional analyses reveal that these findings are stronger when the CEO has more power over corporate decision-making. I provide empirical evidence that CEO political ideology impacts risk factor disclosure.
Recieved from ProQuest
Seo, Jiwoo, "CEO Political Ideology and Risk Factor Disclosure" (2023). Open Access Theses & Dissertations. 3851.