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  • The optimal CFO? Depends on industry growth rate

    CFO Magazine - 06/21/2016

    Accountant CFOs in high-growth industries were associated with 7.4% lower investment expenditure and a 14.6% lower likelihood of engaging in external financing. “Lower investment in risky projects and limited exposure to capital markets are both consistent with greater risk aversion on the part of accountant CFOs,” wrote the authors, Rani Hoitash of Bentley University and Udi Hoitash of Northeastern University, and Ahmet Kurt of Suffolk University.

    On the other hand, for companies in low-growth industries whose revenue was increasing, accountant CFOs were associated with 19% greater cost efficiencies.

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