Research On Heterogeneity Of Executive Team And Non-Financial Information Disclosure

The problem of non-financial information disclosure has been paid more and more attention by capital market and theoretical circles.most of the existing literatures explain the quality of non-financial information from the perspective of internal characteristics and external environment of the company,and few literatures explain the quality of non-financial information from the perspective of executive characteristics.This paper mainly explores the influence of the heterogeneity of executive team on the non-financial information disclosure of the company,which can enrich the relevant research.Based on the review of the relevant literature,this paper analyzes the effects of executive team heterogeneity on the quality of non-financial information disclosure according to the theories of information asymmetry theory,principal-agent theory,high echelon theory and psychological contract theory,and puts forward the corresponding research hypotheses.Select a-share listed companies that published corporate social responsibility reports from 2014 to 2016 as the research primary samples,after screening the data,finally got 453,457,454 samples in each year.The correlation analysis,multiple linear regression were used to test the validity of the method.The results show that the gender,education level and industry background heterogeneity have a significant positive impact on the quality of non-financial information disclosure.The age heterogeneity of senior management team has a significant negative impact on the quality of non-financial information disclosure.Promotion incentive plays a positive role in adjusting the term of senior management team,the heterogeneity of education level and the quality of non-financial information disclosure.It plays a reverse role between the gender heterogeneity of senior management team and the quality of corporate non-financial information disclosure.Finally,enterprises should build a reasonable senior management team structure and efficient communication mechanism,and the government should strengthen the supervision of non-financial information disclosure quality.This paper improves the measurement method of enterprise non-financial information disclosure quality,expands the related research of non-financial information disclosure quality,and can enrich the theory of high echelon.