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引用次数: 0
摘要
本研究以中国的文化大革命作为对风险态度的冲击,探讨了首席执行官早年经历对企业会计保守主义的影响。我们发现,早年经历过 "文革 "的 CEO 规避风险的能力更强,也更保守,因此他们的会计保守主义水平也更高。这种正相关关系在政治风险较高的省份更为明显,例如,省级领导更迭的省份和发生高调省级官僚腐败案件的省份。此外,CEO 早期经历的积极影响在国有企业中更为明显,因为在这些企业中,CEO 对政治生涯的关注更为突出。其他分析表明,具有早期 "文革 "经历的首席执行官更有可能采取保守的会计做法,如增加公司的负债准备金和减少基于权责发生制的收益管理。我们的研究结果为支持上层理论和印记理论提供了新的证据,强调了早年有影响力的社会政治事件对首席执行官决策过程的持久影响。
CEO early-life experience and corporate accounting conservatism: Insights from the socio-political context
Using China's Cultural Revolution as a shock to risk attitude, this study investigates the effect of CEOs' early-life experience on corporate accounting conservatism. We find that CEOs who experienced the Cultural Revolution in their early life are more risk-averse and conservative, and thereby are associated with a higher level of accounting conservatism. Such a positive relationship is more pronounced in provinces with higher political risks, e.g., where the provincial leadership changes and where high-profile provincial bureaucratic corruption cases occur. Also, the positive effect of CEOs' early-life experience is stronger in SOEs where CEOs' political career concerns are more pronounced. Additional analysis suggests that CEOs with early-life Cultural Revolution experience are more likely to adopt conservative accounting practice, such as increasing firm's provisions for liabilities and reducing accrual-based earnings management. Our results add new evidence to support the upper echelons theory and imprinting theory by highlighting the enduring impact of influential socio-political events during early life on the decision-making processes of CEOs.
期刊介绍:
The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.