From watchdog to watchman: Do independent directors monitor a CEO of their own age?

摘要: Abstract We examine the impact of age similarity between independent directors and CEO on earnings management. Using changes in director composition due to same-aged deaths retirements for identification, we find that firms with presence who have same are more likely manage earnings. further these two parties increases management through lowering effectiveness board monitoring. Additionally, this positive decreases as gap widens, but intensifies if share other characteristics CEO, sit audit or nomination committees, lower information asymmetry CEOs older. Our results robust alternative proxies