Research On The Correlation Between The Background Characteristics Of Senior Management Team And The Financial Statement Fraud

Across the long river of economic development,although the relevant systems are becoming more and more rigorous,the financial fraud of listed companies is still couldn't be forbidden.Not only harm to the interests of owners,investors,creditors and stakeholders,but also shocks the healthy development of China's securities market.As one of the hot spots in modern corporate governance and accounting research,domestic and foreign scholars have a lot of research on financial fraud,but it is mainly based on institutional and economic aspects to discuss this phenomenon,In this paper,the financial statements fraud of listed companies are studied from the perspective of the background characteristics of senior management team,to demonstrate whether the financial statements fraud of listed companies are affected by some background characteristics of the senior management team,including age,educat ion,tenure,gender of CEO and CFO,etc.The study of this paper can not only enrich the research on the financial statements fraud of listed companies and inhibition fraud,but can also provide some guidance for modern enterprises to improve the construction of senior management team,auditing of accounting firms and decision-making of other stakeholders.This paper is based on the theory of “high ladder”,“fraud motivation theory”,“principal-agent theory” and “information asymmetry theory”.By combing and referencing on domestic and foreign research on financial fraud and the background characteristics of senior management team,in combination with the development of China's market,determined the study variables of this paper.Finally,through the empirical research,and gained reasonable suggestions from three aspects.In the empirical research section,the listed companies that implemented financial statements fraud and punished by the CSRC were selected as the study samples from 2006 to 2015,and choose a matc hing sample that meets the screening criteria in a 1:1 ratio.Then establishing the Logistic regression model from the two perspectives of homogeneity and heterogeneity,come to the conclusion of this paper.The results show that,in terms of homogeneity,the proportion of graduate students and above in the senior management team,the gender of the CEO or CFO,tenure and the degree of integration of the two positions in the team;in terms of heterogeneity,the difference in gender between CEO and CFO and the difference in tenure of the executive team,are both have significant influence on the occurrence of financial statements fraud.Finally,according to the empirical results,the paper puts forward some specific suggestions from three perspectives: senior management team building,accounting firm and stakeholders.