Here a Chief, There a Chief: The Rise of the CFO in the American Firm

  title={Here a Chief, There a Chief: The Rise of the CFO in the American Firm},
  author={Dirk M. Zorn},
  journal={American Sociological Review},
  pages={345 - 364}
  • D. Zorn
  • Published 1 June 2004
  • Business
  • American Sociological Review
This article examines the rise of the chief financial officer (CFO) position among American firms during the period 1963-2000. Building on event-history models of CFO adoptions among a sample of some 400 large corporations, this analysis documents two stages in the diffusion of the CFO model that occurred prior to its ultimate embodiment of the shareholder-value ideal. The CFO function originated as part of the conglomerate ideal to handle the funding of diversifying acquisitions. In response… 

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