Independent Director's Overseas Experience and Earnings Quality: Based on the Analysis of Imprinting Theory

Sanping Liu

《Frontiers in Economics and Management》 2卷5期 (2021/05) Pp. 103-115

https://doi.org/10.6981/FEM.202105_2(5).0014

摘要

Through the analysis of Imprinting Theory, this paper tests the relationship between the overseas experience of independent directors and earnings quality. Based on the sample of Shanghai and Shenzhen A-share listed companies from 2006 to 2018, this paper examines the impact of overseas experience of independent directors on earnings quality. The empirical results show that: independent directors with overseas experience can significantly improve earnings quality; compared with the overseas experience of non accounting independent directors, the overseas experience of accounting independent directors can improve earnings quality better; compared with the experience of civil law system, the experience of common law system of independent directors can improve earnings quality better. This study is conducive to enrich the research on independent directors, and it can also provide suggestions for enterprises to employ independent directors. In addition, this paper can provide micro evidence for China's talent introduction policy.

關鍵字

Independent Director's Overseas Experience ； Earnings Quality ； Accounting ； Common Law System

參考文獻

Giannetti M ,Liao G ,Yu X .The Brain Gain of Corporate Boards: Evidence from China, Journal of Finance, Vol. 70 (2015), No. 4, p. 1629-1682.

Healy P M, Wahlen J M .A Review of the Earnings Management Literature and its Implications for Standard Setting, Accounting Horizons, Vol. 13 (1999), No. 4, p. 365-383.

Dechow Patricia,Ge Weili,Schrand Catherine.Understanding Earnings Quality:A Review of the Proxies, Their Determinants and Their Consequences, Journal of Accounting and Economics, Vol. 50 (2010),No.2, p. 344-401.

Fama E F,Jensen M C.Separation of Ownership and Control, The Journal of Law and Economics, Vol. 26 (1983), No.2, p. 301-325.

Benkraiem R. Does The Presence Of Independent Directors Influence Accruals Management? , Journal of Applied Business Research, Vol. 25 (2009), No. 6, p. 77-86.