CEO海外经历与企业盈余管理  

CEO's Overseas Experience and Earnings Management

作　　者：杜勇[1] 张欢[1] 陈建英[1] Du Yong et al.

机构地区：[1]西南大学经济管理学院,400715

出　　处：《会计研究》2018年第2期27-33,共7页Accounting Research

基　　金：国家自然科学基金面上项目(71572153);重庆市社会科学规划项目(2017YBGL159);中央高校基本科研业务费重大培育项目(SWU1709201);西南大学人文社会科学重大培育项目(15XDSKZD005)资助

摘　　要：基于烙印理论的分析,本文以2008-2014年度中国A股非金融类上市公司为研究样本,考察了CEO海外经历对企业盈余管理的影响。研究发现:CEO的海外经历对企业盈余管理具有显著的负向影响,并且该效应主要体现在具有外部融资需求以及位于市场化进程较快地区的企业中。拓展的研究表明,相对于来自在大陆法系的经历,来自英美法系的经历对盈余管理的降低效应更明显;相对于海外任职经历,CEO的海外留学经历对企业盈余管理的降低作用更为明显。本文的研究发现"烙印"可能是解释高管海外经历对企业财务行为影响的关键机制,同时为我国政府部门制定优惠政策以激励海外人才回国发展提供了证据支持。Based on imprinting theory, using a dataset of Chinese A-share non-financial listed companies from 2008 to 2014, this paper investi- gates the impact of CEO＇s overseas experience on firms earnings management. We find that CEO＇s overseas experience can effectively reduce earnings man- agement. Based on the different situation, the effect to reduce earnings management is mainly reflected in the firms with external financing needs and the area of higher marketing process. Further, compared to the civil law system, the experience of common law system to reduce earnings management is more significant ; compared to working experience, the experience of studying to reduce earnings management is more significant. Our study explains that imprinting may be a key mechanism to understand the effect of overseas experience on firms financial behavior, and also provides some microscopic evi- dence to support overseas talents to return.

关 键 词：海外经历 烙印理论 盈余管理 

分 类 号：F272.91[经济管理—企业管理] F275[经济管理—国民经济]