Keeping up the Fame: Celebrity CEOs' Engagement in Earnings Management and CSR activities

This study examines whether celebrity CEOs engage in earnings management and corporate social responsibility (CSR) activities more than non-celebrity CEOs. We argue that a firm's engagement in earnings management and CSR activities may be affected by a celebrity CEO's opportunistic incentive to manage impression, and the motivation of engagement in impression management becomes stronger when there is greater uncertainty surrounding a firm's expected performance. Hypotheses were well supported. The findings of this study provide useful insights on the specific ways by which celebrity CEOs attempt to maintain established social status. This paper contributes to various domains of research including CEO research, impression management, earnings management, and CSR literature.