| This paper chooses the financial data of A-share listed companies in China from 2011 to 2017,and empirically studies the impact of the personal characteristics of the signed CPA on the executive compensation contract of the audited company.The personal characteristics of signature CPAs selected in this paper include gender,age,educational background,specialty,political outlook and tenure of office of signature CPAs.The research finds that: firstly,the salary level of the executives of the audited units is significantly affected by the personal characteristics of the current signatory CPAs.Specifically,when signature CPAs show the characteristics of women,postgraduate education,Multidisciplinary Background and younger,the board of directors or compensation committee of the audited unit usually set high-level salaries for executives under the "salary defense" of the executives.When signature CPAs are members of the CPAs,for political reasons,executives are more likely to adjust.Lower your salary level.At the same time,from the perspective of agency cost,it is found that the personal characteristics of signature CPAs have a significant impact on executive compensation performance sensitivity.Specifically,the characteristics of female signature CPAs,graduate degree or above,and younger signature CPAs have a positive impact on executive compensation performance sensitivity,while signature registration has a positive impact on executive compensation performance sensitivity.The tenure characteristics of accountants do not show significant characteristics either in the salary level of the audited units or in the sensitivity of salary performance.In addition,the study also finds that the influence of CPAs’ political features on the auditees’ pay performance sensitivity is significantly regulated by the nature of property rights.Among nonstate-owned enterprises,the influence of CPAs signed by Party members on the salary performance sensitivity of audited units will be strengthened,while in state-owned enterprises,the influence will be weakened.This paper makes a systematic empirical study on the relationship between the signature CPA’s personal characteristics and the executive compensation contract of the audited unit,which provides a certain reference value for solving the principal-agent problem of Listed Companies in China. |
