Research On Effects Of Board Members' Gender Characteristics To The Accounting Information's Quality

In the capital market,the accounting information published by enterprises is an important basis for investors' decision-making.Therefore,the correctness of investment decision-making is closely related to the quality of accounting information.In recent years,financial scandals in China's securities market have been prohibited repeatedly.Every year,listed companies are issued non-standard audit opinions by certified public accountants,which indicates that the quality of accounting information published by Listed Companies in China still needs to be improved.Corporate governance structure is a major factor affecting the quality of accounting information.Establishing a scientific and effective corporate governance structure is a key factor to improve the quality of accounting information.The board of directors is the business decision-making body of an enterprise,which is at the core of corporate governance.A sound and effective board of directors can create a good internal environment for producing high-quality accounting information.With the progress of society,the door of business has been opened to women,and the number of enterprises employing female directors has increased year by year.As a result,the role of female directors in board decision-making and corporate governance has attracted wide attention from all walks of life.Norway,Sweden and other countries even have the lowest proportion of female directors in the board of directors.The case was written into the statute.Therefore,in our country,the impact of female directors on the quality of accounting information of enterprises deserves attention.Based on the above considerations,this paper firstly uses the theoretical deductive method,applies the Upper Echelons Theory,Principal-agent Theory,Stakeholder Theory,Human Capital Theory and Resource Dependence theory to theoretically analyze the impact of female directors on the accounting information quality of listed companies;and then collects all A-shares listed in Shanghai and Shenzhen Stock Exchanges from 2013 to 2017.Collecting data on all A-share listed companies in Shanghai and Shenzhen stocks from 2013 to 2017,using the revised Jones model as a substitute for accounting information quality,starting from the proportion of female directors,whether to employ female chairman and the financial background of female directors,Construct multiple regression models to empirically test the impact of female directorship on the quality of accounting information.The research finds that:(1)The proportion of female directors in the board of directors is directly proportional to the quality of accounting information,that is,the functions of female directors in the board of directors can inhibit the earnings management behavior of enterprises,thereby improving the quality of accounting information.This shows that women have a higher level of business ethics,and their awareness of maintaining corporate image and reputation is stronger;(2)Although the appointment of female chairman is helpful to improve the quality of accounting information,the impact is not significant.It shows that employing female chairmen can not significantly reduce earnings management behavior of enterprises.The chairman is the top leader of a company.According to the classical leadership theory and the trait theory proposed by the chairman,the higher the leader,the smaller the influence of gender on his role.At the same time,through the analysis of research samples,it is found that most of the female chairmen in China belong to technical personnel,only a small number of female chairmen are financial professional background,so hiring female chairmen can not have an effective impact on improving the quality of accounting information;(3)Companies employing female directors with financial background have relatively higher quality of accounting information.This shows that female directors with financial knowledge pay more attention to financial information when making decisions,and their opinions are more professional.Based on the above conclusions,this paper puts forward the following suggestions:(1)Referring to Norway and other countries,formulating relevant policies,including the lowest proportion of female directors in the corresponding regulations;(2)In order to improve the quality of enterprise accounting information,female directors should improve their own financial professional literacy,in order to make more professional and effective decision-making recommendations;(3)When choosing a chairman,companies should abandon gender bias and focus on whether candidates have the characteristics or skills to become qualified leaders.