Research On The Influence Of Executives’ Overseas Background On The Level Of Safety Information Disclosure In High Risk Industries

In the process of China’s national economy from high-speed growth to stable development,the quality of economic development and the social effect of enterprises have become the focus of the current economic system reform,which means that the former development mode of emphasizing production and neglecting safety is no longer applicable,especially for high-risk industries,because of the characteristics of high-risk production risks,high accident rate and strong destructiveness,people pay more attention to it.As an important part of national economic development,enterprises should take production safety as the development strategy of the company,constantly improve the awareness of safety production,increase the investment in safety production,improve the safety production capacity from the root,and reduce the occurrence of safety accidents.Safety investment of enterprises needs to use safety accounting for accounting,which will involve supervision and disclosure of relevant information,which requires listed companies in high-risk industries not only pay attention to safety production investment,but also conduct correct accounting and disclosure.Foreign countries pay more attention to the safety production problems earlier,and the relevant regulations on the safety production investment and information disclosure of enterprises are relatively perfect.With the increasing proportion of senior executives with overseas background in high-risk industries,the strong awareness of safety production and information disclosure in foreign countries has brought opportunities for the improvement of safety production and related information disclosure in China.At present,the theoretical circle has launched a positive discussion on the phenomenon of senior executives returning home,involving in the aspects of corporate performance,risk tolerance and social responsibility performance.However,as an important form of non-financial information disclosure,the relationship between the overseas background of executives and the level of safety information disclosure in high-risk industries has not been fully studied,which provides a new perspective for this study.Based on the high-level echelon theory,principal-agent theory,stakeholder theory and signal transmission theory,this paper selects 989 A-share high-risk industry listed companies in Shanghai and Shenzhen stock markets,and scores their safety information disclosure level from 2013 to 2019.At the same time,by reading the resumes of directors,supervisors and senior executives in the company’s annual report,this paper collates and summarizes their overseas background a total of 5827 valid company annual sample data were obtained.Through the combination of descriptive statistics,multiple linear regression and robustness test,we verify the influence of senior executives’ overseas background on the safety information disclosure level of high-risk industries,the influence differences of senior executives’ overseas working experience and learning experience on the safety information disclosure level,the influence differences of senior executives’ overseas learning methods and the moderating role of enterprise internationalization level.It also involves the influence of the proportion of key positions of executives with overseas background and the grouping regression of the nature of enterprise property rights.The results show that: The safety information disclosure level of enterprises with overseas background executives is higher than that of enterprises without overseas background executives.The higher the proportion of executives with overseas background,the higher the level of security information disclosure.Compared with executives with overseas learning experience,executives with overseas working background have more obvious influence on improving the level of enterprise safety information disclosure.Fourthly,compared with the overseas experience of civil law system,the executives with the experience of British French American department have a greater positive impact on the level of security information disclosure.The level of internationalization has a positive moderating effect on the level of senior executives’ overseas background and safety information disclosure.After regression analysis and robustness test,the relevant hypotheses of this paper have been verified,which proves the promotion effect of executives with overseas background on the level of safety information disclosure in high-risk industries and the differences in the impact of different overseas backgrounds of senior executives.In the further study,through the grouping regression of overseas background executives in key positions and the nature of property rights,we draw the following conclusions: Overseas background executives in key positions have a positive impact on the level of enterprise safety information disclosure,but the impact is smaller than the overall level of overseas background executives;Compared with state-owned enterprises,overseas background executives of non-state-owned enterprises have a positive impact on safety information disclosure the positive effect of dew level is greater.Third,the short-term overseas experience of senior executives will not significantly improve the level of corporate security information disclosure.Based on the high-level echelon theory,this study explores the impact of overseas strong awareness of safety production and information disclosure on senior managers’ cognition and values,establishes the relationship between senior executives’ domestic employment and enterprise safety information disclosure level,enriches the economic consequences of executives’ overseas background and the influence factors of safety information disclosure level in high-risk industries.The research on these two aspects can provide reference for the government and enterprises to further improve the safety production and information disclosure.