The role of the Chief Financial Officer (CFO) has substantially changed in a world characterized by globalized financial markets and truly global products. The accelerated development of new technologies, products, and markets has led to an increasingly dynamic and uncertain competitive situation. The book demonstrates and discusses the impact of this changing corporate environment on the role and responsibilities of the CFO. A more holistic view that integrates business and financial decisions is required in order to manage these challenges of globalization. The book shows how the CFO can adopt and implement this management approach and thus play a vital role in the firm's value creation.
Although a large literature in accounting examines the role that audit committees play in the oversight of the financial reporting process, little is known about how the interactions between the audit com-mittee as a group and top management affects financial reporting choices. In this study, we investigate the effect of an important type of group dynamic, namely the political dissimilarity between the audit committee and the CFO, on financial reporting quality. Using a large sample of hand-collected political donation data, we find that audit committeeCFO political dissimilarity is associated with lower like-lihoods of financial restatements, lower likelihood of material weaknesses, and lower audit fees. Im-portantly, these positive financial reporting quality outcomes exist even after controlling for other features of the audit committeeCFO relationship, namely gender, age, and relative power, local ide-ological heterogeneity, and CEO ideological dissimilarity with both the audit committee and the CFO. Further testing shows that the effects of CFOpolitical dissimilarity on financial reporting quality is salient in settings within the purview of the audit committee where decisions are inherently complex, can be subjective, and are more likely to be associated with disagreements with managementgoodwill impairments, tax avoidance, and pro-forma reporting. Overall, our results suggest that heterogeneity in political beliefs between audit committee members and the CFO is valuable. ; Submitted version
When a terminal is recruited to cooperate with other neighboring terminals, its channel state and carrier frequency offset (CFO) may be unknown to the destination. Under these circumstances, this paper considers the use of distributed double-differential (DD) modulation, which simplifies receiver implementation because it by-passes channel and CFO estimation. Two double-differential codecs are proposed transmitting: i) across orthogonal channels using time-division multiplexing, achieving rate and error performance similar to that of co-located multi-antenna DD systems; or ii) simultaneously, benefiting from the distinct CFOs across terminals and bypassing the need of ordering protocols. Both (i)-(ii) approaches are considered in adaptive- and selective-relaying cooperation protocols demonstrating that maximum spatial diversity is achievable. Simulations corroborate the theoretical error performance claims. ; The work in this paper has been supported by the Spanish Government under CICyT (ref: TEC2005-06766-C03-01) and the Madrid?s Regional Government under PRICIT (ref: P-TIC-000223-0505). ; Teor?a de la Se?al y Comunicaciones
Proven leadership strategies that will impact your career and your company Having the right CFO is a critical component for every company's success. Guide to CFO Success provides CFOs and those in the making with a strategic blueprint to benefit their companies and their careers. This book reveals how to build a strong, successful career plan with guidance on team building and management of the multiple relationships that CFOs face on a daily basis, plus how to balance one's work and personal life. Offers strategic guidance for leadership growth for CFOsPresents essential information for every.
