Exemplary Outsiders? Immigrant CEOs and Financial Misrepresentation

Michael Mueller*, Taco H. Reus

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference abstract in proceedingsResearchpeer-review


We examine the role of CEOs' national origins on financial misrepresentation. Building on the economic theory of crime, we propose that, because immigrant CEOs are subject to more scrutiny and face more severe punishment in case of misconduct, immigrant CEOs will be less likely to misrepresent their firms’ financial results. We find evidence for this proposition for a sample of US-headquartered Information and Communications Technology firms that went public between 2000 and 2015. Specifically, we find that firms with an immigrant CEO have a lower likelihood of financial misrepresentation than native-led firms, particularly when immigrant CEOs are also their firm’s founders. Our paper contributes to research on corporate misconduct, immigrant entrepreneurship, and the broader discussion on the relationship between immigration and crime.
Original languageEnglish
Title of host publicationProceedings of the Eighty-second Annual Meeting of the Academy of Management
EditorsSonja Taneja
Number of pages6
Place of PublicationBriarcliff Manor, NY
PublisherAcademy of Management
Publication date2022
Article number78
Publication statusPublished - 2022
EventThe Academy of Management Annual Meeting 2022: Creating a Better World Together - Seattle, United States
Duration: 5 Aug 20229 Aug 2022
Conference number: 82


ConferenceThe Academy of Management Annual Meeting 2022
Country/TerritoryUnited States
Internet address
SeriesAcademy of Management Proceedings


  • AOM annual meeting proceedings 2022
  • AOM Seattle 2022
  • Best paper

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