Study On The Influence Of Heterogeneity On The Quality Of Accounting Information And Corporate Performance In Independent Directors Team

Independent directors system as an important part of corporate governance mechanisms plays an effective role in reducing agency costs and balance the right of confrontation between large shareholders and minority shareholders, and is recognized and adopted worldwide. The effective operation of the independent director system is conducive to the listed companies to maintain a good reputation image, to provide information support for the interests of the company, to enhance the profitability and create more value for shareholders. However, how to improve the operation of the independent director system and to find an effective measure is the focus and difficulty of academia.After reviewed related literature about independent director system and team heterogeneity both domestic and foreign, this paper conducted a series of theoretical and empirical study on the above issues.Firstly, Based on the research of the independent director system and team heterogeneity, concept of independent director team and its heterogeneity were put forward, and four explanatory variables that independent directors team age heterogeneity, tenure heterogeneity, professional background heterogeneity and serving industry heterogeneity were built combining with criteria for the team heterogeneity dimension by the existing theoretical research. Secondly, the variables interpreted were accounting information quality (including the earnings quality of accounting information and the disclosure quality of accounting information) and corporate performance (including financial performance and market performance) starting from performance of independent director system based on supervision and advising functions of independent directors. Conclusion as follows were conducted: firstly, professional background heterogeneity and serving industry heterogeneity of independent directors team can significantly improve the performance of listed companies as well as the disclosure quality of accounting information, but not the earnings quality of accounting information. Secondly, term heterogeneity of independent director team will reduce the earnings quality of accounting information, but there is no correlation with the disclosure quality of accounting information and corporate performance. Thirdly, age heterogeneity effect does not impact on the quality of accounting information and corporate performance.In order to ensure the validity of the conclusions of the study, to verify the existing research, three kinds of variables were controlled:the corporate governance structure, the overall characteristics of corporate, individual characteristics of independent directors.Research on moderating effect of company size shows:the size of listed companies plays an important weakening regulatory role in the relationship between professional background heterogeneity and corporate performance.