| This thesis takes the domestic and foreign market supervision situation as the institutional background,and the specific situation of some corporate violation cases in recent years as the factual background,combing the existing domestic and foreign research literature and finding out: CEO management style is not only affected by his personality,age,education and other personal characteristics,but also related to his previous experience,and the background characteristics will affect his behavior decision-making,which in turn will affect the corporate violation behavior.Some studies have shown that companies with senior management experience in the financial industry are more likely to implement earnings management behavior,especially when the internal control or external governance mechanism of the company is weak,the CEO with financial background is more likely to be induced to pursue self-interest behavior,The quality of accounting information and earnings management and corporate violations are closely related.Therefore,the relationship between CEO financial expertise and corporate violations is worth exploring.This thesis is based on the upper echelon theory,principal agent and other theory to establish theoretical analysis,selected 4950 cases in 2008-2019 for violations of punishment,false disclosure or disclosure is not timely,moreover is fictitious profits,illegal occupation of capital violations,and most violation cases are not lack of CEO or other management members,so we explore the relationship between CEO background characteristics and corporate violations.A positive relationship was found between CEO financial background and corporate violations.Further,the impact of the CEO with financial expertise on different types of violations was analyzed.The results show that the CEO with financial expertise is more likely to have an impact on misleading statements,delayed disclosure,occupation of assets and illegal guarantee violations.By analyzing the moderating effect of ownership structure,it is found that both ownership concentration and state-owned holding alleviates the positive correlation between them.Enterprises with strong ownership concentration or state-owned holding enterprises can reduce the occurrence of irregularities in enterprises with CEO with financial background.In the robustness test,the financial background of the CEO is first replaced by the financial background of the senior management team to test the accuracy of the hypothesis.The results are still significant,indicating that there is also a positive relationship between the financial background of the top management team and corporate irregularities.corporates with financial expertise of the top management team are less likely to affect unauthorized changes in the use of funds,insider trading and improper accounting practices.In the endogeneity test,the CEO’s financial expertise is still strongly and positively correlated with corporate irregularities.Based on the analysis and research results,this paper puts forward specific suggestions on listed companies’ governance: maintaining a good ownership structure and improving green performance;Improve the personnel management system,pay attention to the combination of specific circumstances when appointing senior management and strengthen the professional ethics education for senior management members;Strengthening internal and external supervision,giving full play to internal audit and other supervision functions,and effective punishment measures are important means to prevent violations. |
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