R. Drew Sellers, Kent State University
Timothy J. Fogarty, Case Western Reserve University
Larry M. Parker, Case Western Reserve University

The Chief Financial Officer (CFO) is a highly compensated, highly prestigious position in modern corporations. This research attempts to study the importance of superior forms of educational capital possessed by such people. Using data collected from publicly traded companies, this study finds that CFOs tend to possess educational credentials from highly ranked schools. This tendency tends to be more common for CFOs employed by the larger companies from this group. Educational capital is also evaluated in the context of work experience. Whereas general work experience did not matter, previous public accounting employment tended to better substitute for the possession of a prestigious educational background. Implications for accounting education are drawn.


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