Research On The Relationship Between CEO-CFO Background Characteristics Difference And Accounting Information Quality

In recent years,many listed companies at home and abroad have been exposed to financial scandals one after another.The authenticity of the company's accounting information quality has attracted much attention.Among the members of the company's senior management team,the CEO and CFO are the most relevant and direct leaders of accounting information disclosure.Their degree of cooperation will directly affect the quality of the company's accounting information.Therefore,in recent years,many scholars at home and abroad have begun to try to explore the relationship between the two from the individual level of senior executives.However,most of these studies discuss the overall background characteristics of senior management team or the effect of CEO and CFO individual background characteristics on the quality of accounting information,and less to discuss the differences between the background characteristics of CEO and CFO on the quality of accounting information.Based on this,based on related theories and a large number of literatures,this paper studies the influence of differences in background characteristics between CEO and CFO on the quality of accounting information.First of all,this paper selects listed companies of non-standard unqualified opinions from 2006 to 2016 and financial restatements from 2011 to 2016 in all listed companies,and conducts one-to-one matching to obtain 1,338 observations.Secondly,set seven background differences in gender differences,age differences,education differences,time differences,wage differences,share differences and number differences,and propose corresponding research hypotheses for each differential variable and the relationship between the quality of accounting information.Based on empirical research methods such as binary logistic regression,paired sample T-test,and robustness test,the following conclusions are drawn:(1)Differences in the educational between CEO and CFO have a significant positive effect on the quality of accounting information,and wage and share differences between CEO and CFO have a significant negative effect on the quality of accounting information.Among them,the wage difference between the two has the most significant effect on the quality of accounting information;(2)The gender difference and the time difference between CEO and CFO are not significant to the quality of accounting information in the audit opinion type sample group,but in the financial restatement sample group,there is a significant correlation between the two,and this result is verified after the robustness test of the paired sample T-test and the addition of industry and year control variables,which proved the gender difference between CEO and CFO has a positive impact on the quality of accounting information,and the time difference has a negative impact on the quality of accounting information.(3)There are no significant correlation between age and number differences between CEO and CFO and the accounting information quality.They passed the audit opinion type sample group and financial restatement sample group respectively for regression analysis,but the regression results showed that CEO and CFO age and number differences have no stable effect on the level of quality of accounting information.The above conclusions in this paper not only enriched and developed the theory of high-level echelon,but also broadened a new perspective for the study of the company's accounting information quality.Finally,according to the theoretical analysis and empirical research results of this paper,we have made practical suggestions for countermeasures from the three levels of the country,company and individual executives.