More words but less investment: Rookie CEOs and firms’ digital transformations

Aboody, 2000, CEO stock options awards and the timing of corporate voluntary disclosures, Journal of Accounting and Economics, 29, 73, 10.1016/S0165-4101(00)00014-8 Baginski, 2018, Do career concerns affect the delay of bad news disclosure?, The Accounting Review, 93, 61, 10.2308/accr-51848 Bamber, 2010, What’s my style? The influence of top managers on voluntary corporate financial disclosure, The Accounting Review, 85, 1131, 10.2308/accr.2010.85.4.1131 Bernile, 2017, What doesn’t kill you will only make you more risk-loving: Early-life disasters and CEO behavior, The Journal of Finance, 72, 167, 10.1111/jofi.12432 Brennan, 1999, Voluntary disclosure of profit forecasts by target companies in takeover bids, Journal of Business Finance and Accounting, 26, 883, 10.1111/1468-5957.00279 Chen, 2009 Chen, 2021, How does the digital economy affect the level of enterprise risk-taking?, Business and Management Journal, 43, 93 Custódio, 2014, Financial expert CEOs: CEO’s work experience and firm’s financial policies, Journal of Financial Economics, 114, 125, 10.1016/j.jfineco.2014.06.002 Dhaliwal, 2011, Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting, The Accounting Review, 86, 59, 10.2308/accr.00000005 Ding, 2022, CEO career concerns and the precision of management earnings forecasts, Review of Quantitative Finance and Accounting, 58, 69, 10.1007/s11156-021-00988-z Doina, 2008, Analysis of a company’s liquidity based on its financial statements, Annals of the University of Oradea, Economic Science Series, 17, 1366 Du, 2018, CEO’s overseas experience and earnings management, Accounting Research, 2, 27 Elsaid, 2011, Does experience matter? CEO successions by former CEOs, Managerial Finance, 37, 915, 10.1108/03074351111161583 Fama, 1980, Agency problems and the theory of the firm, Journal of Political Economy, 88, 288, 10.1086/260866 Francis, 1994, Shareholder litigation and corporate disclosures, Journal of Accounting Research, 32, 137, 10.2307/2491279 Gibbons, 1992, Optimal incentive contracts in the presence of career concerns: Theory and evidence, Journal of Political Economy, 100, 468, 10.1086/261826 Gillan, 2009, Explicit versus implicit contracts: Evidence from CEO employment agreements, The Journal of Finance, 64, 1629, 10.1111/j.1540-6261.2009.01475.x Gudell, 2011 Hambrick, 1984, Upper echelons: The organization as a reflection of its top managers, The Academy of Management Review, 9, 193, 10.2307/258434 Hamori, 2014, Experience matters? The impact of prior CEO experience on firm performance, Human Resource Management, 54, 23, 10.1002/hrm.21617 Hanlon, 2021, Behavioral economics of accounting: A review of archival research on individual decision makers, Contemporary Accounting Research, 39, 1150, 10.1111/1911-3846.12739 He, 2019, The performance improvement effect of digital transformation enterprises from the digital economy perspective, Reform, 4, 137 Hermalin, 1993, Managerial preferences concerning risky projects, Journal of Law, Economics and Organization, 9, 127 Hermalin, 2007 Hirshleifer, 1992, Managerial conservatism, project choice, and debt, The Review Financial Studies, 5, 437, 10.1093/rfs/5.3.437 Hoitash, 2016, Do accountants make better chief financial officers?, Journal of Accounting and Economics, 61, 414, 10.1016/j.jacceco.2016.03.002 Holmstrom, 1999, Managerial incentive problems: A dynamic perspective, Review of Economic Studies, 66, 169, 10.1111/1467-937X.00083 Hu, 2020, CEOs’ experience of the great Chinese famine and accounting conservatism, Journal of Business Finance and Accounting, 47, 1089, 10.1111/jbfa.12485 Huang, 2022, How does the digital economy drive the upgrading of manufacturing industry?, Business and Management Journal, 44, 80 Li, 2018, Will cheap talk on environmental responsibility get punished?, The Journal of World Economy, 41, 167 Li, 2021, The effects of digital transformation and supply chain integration on firm performance: The moderating role of entrepreneurship, Business and Management Journal, 43, 5 Li, 2017, Career concerns and the busy life of the young CEO, Journal of Corporate Finance, 47, 88, 10.1016/j.jcorpfin.2017.09.006 Liu, 2015, CEO succession, the deviation of firm performance and R&D investment: A research on the perspective of orientation of strategic change, Nankai Business Review, 18, 34 Liu, 2020, Firm’s digitalization, specific knowledge and organizational empowerment, China Industrial Economics, 9, 156 Ma, 2021, Generalist CEOs and credit ratings, Contemporary Accounting Research, 38, 1009, 10.1111/1911-3846.12662 Malmendier, 2011, Overconfidence and early-life experiences: The effect of managerial traits on corporate financial policies, The Journal of Finance, 66, 1687, 10.1111/j.1540-6261.2011.01685.x Ni, 2021, Digital transformation and enterprise growth: Logic and practice of China’s capital market, Business and Management Journal, 43, 79 Niu, 2007, Rights departure, board behavior and firm value: Comparative empirical study of the panel data in listed companies controlled by private, Nankai Business Review, 10, 31 Qi, 2020, The influence of digital economy on corporate governance: Analyzed from information asymmetry and irrational behavior perspective, Reform, 4, 50 Ren, 2022, Corporate financialization and digital transformation: Identification and inspection of digital text information based on annual reports of listed companies, Economy and Management, 36, 84 Shi, 2022, The influence of business environment on enterprise digital transformation: Facts and mechanisms, Journal of Beijing Jiaotong University (Social Sciences Edition), 21, 14 Song, 2022, Impact of entrepreneur social network on enterprise digital construction: The regulatory role of strategic flexibility, Studies in Science of Science, 40, 103 Thaler, 1990, Gambling with the house money and trying to break even: The effects of prior outcomes on risky choice, Management Science, 36, 643, 10.1287/mnsc.36.6.643 Trueman, 1986, Why do managers voluntarily release earnings forecasts?, Journal of Accounting and Economics, 8, 53, 10.1016/0165-4101(86)90010-8 Wang, 2017, Environmental factors, CEO overconfidence and IT investment performance, Journal of Management World, 9, 116 Wu, 2021, Enterprise digital transformation and capital market performance: Empirical evidence from stock liquidity, Journal of Management World, 37 Wu, 2022, Digital transformation, choice of competitive strategy, and high-quality development of firms: From evidence of machine learning and text analysis, Business and Management Journal, 44, 5 Yuan, 2021, Digital transformation and division of labor between enterprises: Vertical specialization or vertical integration, China Industrial Economics, 9, 137 Zhang, 2008, Information asymmetry and the dismissal of newly appointed CEOs: An empirical investigation, Strategic Management Journal, 29, 859, 10.1002/smj.689 Zhang, 2009 Zhang, 2014, Business complexity, industry expertise of independent directors and stock price synchronicity, Accounting Research, 7 Zhang, 2005, The characteristics of board of directors and CEO turnover, Nankai Business Review, 8, 16 Zhao, 2021, How does digital transformation affect the total factor productivity of enterprises?, Finance and Trade Economics, 42, 114