Top Management Team's Overseas Experience,Accounting Conservatism And Persistence Of Innovation Of Enterprises

Reform and opening up have entered a new era,and profound changes have taken place in the domestic and international environment.In order to cope with new bottlenecks in development in the new era and achieve sustained and sound economic development,China has put forward five development concepts: innovation,coordination,green,openness and sharing.Top of the five development concepts is innovation.It can be seen that the implementation of innovation-driven development strategy is not only an effective way to alleviate the current downward pressure on China's economy,but also the strategic support for the construction of a modern economic system.Studies have shown that temporary innovation success of enterprises will reap short-term excess returns,but if enterprises are satisfied with the status quo and cannot achieve continuous innovation,they will soon lose the advantages brought by innovation.Therefore,an important issue of technological innovation of Chinese enterprises is the sustainability of innovation.Innovative development requires the full mobilization of various resources,especially the full play of the advantages of human resources.In the enterprise innovation activity,the talented person resources is the most active,the most positive factor.In order to implement the innovation development strategy and improve China's independent innovation ability,it is bound to build a team of executives with excellent quality and reasonable structure.Overseas work and study experience often means multiple cultural shocks and collisions to individuals,so overseas experience of senior executives is one of the important characteristics of senior executives.According to advanced theory and behavioral finance theory,the overseas work or study experience of senior executives will have an impact on their way of thinking,values and psychological state,so that the change of their behavioral tendency may affect the generation process of enterprise financial information,thus affecting the quality of accounting information.On the other hand,accounting conservatism can enable senior executives to avoid investing in projects with positive net present value but high risk,and enterprise innovation activities are exactly such investment projects with high uncertainty.Even if they may bring rich cash flow to enterprises in the future,senior executives will treat the investment cautiously.However,few scholars have explored the role of accounting conservatism in the study of executives' overseas experience and corporate innovation.Then,what effect will the differences in overseas experience of the senior management team have on the continuous innovation of the enterprise? What is the conduction pattern? Does accounting conservatism play an intermediary role? These problems deserve our further study.In this paper,we study from the selection of senior team overseas experience,Shanghai and shenzhen two city from 2007 to 2017 in the a-share market enterprises as the research sample,on the basis of theoretical analysis,by constructing multivariate regression model,first empirically the executive team overseas experience,A direct impact on the sustainability of enterprise innovation and then empirically the executive team overseas experiences influence on accounting conservatism,the final accounting robustness this factor are introduced to study the executive team overseas experiences influence on enterprise innovation and continuous way,to test the mediation effect of accounting conservatism That is,whether the senior management team affects the sustainability of enterprise innovation due to the impact of accounting conservatism.The study of this paper has certain reference significance for enterprises and standard setters to dialectically understand the overseas experience of senior management team,accounting conservatism and enterprise innovation sustainability,as well as the relationship among the three.It is of great practical significance for enterprises to correctly understand the importance of senior management team construction,take corresponding measures to establish and improve senior management team construction,improve enterprise innovation ability and improve enterprise comprehensive competitiveness.