Female Executives,Strategic Differences And Accounting Conservatism

Conservatism is an important feature of accounting information quality and has always been a hot topic to be sought after.In order to prevent the stock price from dramatically falling,to protect the interests of small and medium investors and to maintain market confidence,the meaning of accounting conservatism has gradually been explained in the various versions of the guidelines,and its importance has been repeatedly emphasized.At the same time,with the deepening of reform and opening up,China's market mechanism has become more perfect,and the autonomy of enterprises as market players has gradually strengthened.In order to cope with the complexity of the market economy and give full play to its autonomy,all enterprises actively promote strategic reforms to adapt to changes in the times to seek competitive advantage.However,change will make the corporate strategy deviate from the industry's conventional strategy.This risky measure means that risks and benefits coexist.The more serious degree of information asymmetry caused by strategic differences will affect the level of conservatism of accounting information provided by management.As the executor of the strategy,managers,their characteristics not only affect the effect of the strategy implementation,but also the credibility of the external financial report of the enterprise after the corresponding effect.This paper focuses on verifying the relationship between corporate strategic differentiation and accounting conservatism,and explores the impact of female executives' characteristics on the relationship between the two from the perspective of managers' gender.This paper uses the 2008-2017 Shanghai-Shenzhen A-share listed companies as a sample,using a combination of theoretical and empirical analysis to explore the impact of strategic differences on accounting robustness and the impact of female executives on the relationship between the two.Among them,the accounting conservatism is calculated by the C-Score value calculated by Khan and Watts(2009).The strategic difference is calculated by the methods of Tang et al.(2012)and Ye Kangtao et al.(2015).Female executives use whether the CEO or CFO is female,the proportion of women and the average age of women.Through regression analysis,this paper finds:First,the listed companies in China generally have accounting conservatism;second,the strategic difference and accounting conservatism show a negative correlation.That is,the more the strategic model adopted by the enterprise deviates from the industry's conventional strategy,the lower the level of accounting conservatism;third,when the company's CEO or CFO is female,due to the risk aversion and non-confidence of women,and the position It has a great influence on strategy implementation and accounting policy choice,the negative correlation between the company's strategic difference and accounting conservatism will disappear.Fourth,the higher the proportion of female executives,the negative correlation between strategic differences and accounting conservatism.The weaker the relationship;fifth,the greater the average age of female executives,the weaker the negative correlation between strategic differences and accounting conservatism.Based on the above conclusions,this paper proposes the following suggestions: First,laws and regulations should broaden the scope of the information disclosure system,consider the relevant indicators for joining the strategy,and calculate and uniformly disclose the relevant departments;second,the company should design a more reasonable salary incentive system and further take into account the relevant characteristics of the manager;third,the company should pay attention to the relevant role of women in management,especially the risk control level.At the same time,improve the protection mechanism of professional women's rights and interests.The innovation of this paper is that the existing literature rarely focuses on the relationship between strategic difference and accounting conservatism.However,through literature review,this paper finds the inherent logic that may exist between them.At the same time,combined with the characteristics of female executives,the relationship between the two characteristics under different characteristics is discussed.