Research On Top Management Background Characteristics Influence Earnings Forecasts Disclosure Motivation Of Agriculture Listed Companies

As an important way of information disclosure, management of listed company earnings forecastmore and more attract investors’ attention. As an developed market economy countries, America hasestablished a relatively perfect predictive information disclosure system, especially the managementearnings forecasts have become an important tool for alleviate the information asymmetry betweeninvestors and company management. At the same time, in our country earnings forecast disclosuresystem has established implementation since1998which is still in continuously improving andperfecting. Because Earnings forecast system is not perfect, and predicting is uncertainty of itself, thatmake listed companies management lots of manipulate space left. By studying the performance forecast,it has important significance for investors to understand the operating performance of listed companiesand market regulators for effective market management.All the time, many theory research attempts to explain the management decision-making behavioron the basis of classical economics and agency, and obtained a number of research results. But a lot ofresearch conclusion inconsistent which caused people to research on this issue further. We consider that,to a large extent, inconsistent reason is that traditional theory research only considers the institutionalenvironment, internal structure and the characteristics of external factors which influence on corporatedisclosure, and the manager is usually considered a homogeneous and fully rational, which neglectedthe role managers play their own. Based on the upper echelons theory and the management talentsignaling hypothesis, we studied relationship between listed companies executives backgroundcharacteristics and listed companies forecast disclosures behavior.Key to answer the followingquestions: why the listed companies disclosure, namely disclosure motivation problem. Whetherexecutive background characteristics affect earnings forecast disclosure motivation.We use normative analysis and the empirical analysis with the combination of research methods,and use subject knowledge such as economics, management science and psychology to analyse theinformation disclosure behavior of listed companies. At the same time, the use of the listed companyearnings forecast disclosure data from2007to2012, combined with the background characteristics ofexecutives, empirically tested how the executive’s background characteristics affect earnings forecastdisclosure behavior of listed companies.The basic conclusions are as follows: the background characteristics of executives affects earningsforecast voluntary disclosure motivation. The age, gender, sex and education degree significantly relatedto earnings forecast disclosure motivation, financial background characteristics significantly negativerelated to performance forecast disclosure motivation, legal background characteristics also negativelyrelated to the disclosure motivation, but the correlation is not significant. Political backgroundcharacteristics positive correlation to performance of the executives forecast disclosure motivationsignificantly.Full text total has six chapters: chapter1mainly introduces the research background, researchsignificance, research ideas and content, research methods and research innovation and possible contribution; Chapter2, review the related information disclosure literature about characteristics ofexecutives and disclosure decision-making influence factors, and organizational decisions; Chapter3system analysis the asymmetric information theory, signaling theory and the upper echelons theory;Chapter4mainly introduced disclosure of information disclosure system (including managementearnings forecast system) and the senior executives appointment system of listed companies,andanalyzed earnings forecast disclosure and executive background characteristics. Chapter5examine therelationship of executive background characteristics and performance forecast disclosure motivation,executive’s background characteristics and performance forecast disclosure mode selection andbackground characteristics of executives and earnings forecast disclosure consequences respectively;Chapter6gives the research conclusion. And combined with the actual situation in our country, we putforward the corresponding policy recommendations. At the same time, we points out the limitations ofresearch in the direction of further research.