The Characteristics Of Secretary Municipal Committee Of The Cpc And Earnings Quality Of Enterprises

After the reform and opening up,under the institutional arrangements of economic construction and fiscal and taxation,local government officials have played a role in promoting economic restructuring,economic development,investment promotion,local infrastructure improvement,and regional economic cooperation.An important role.In the context of the “promotion championships”,local government officials have the motivation to intervene in business operations in order to achieve local economic growth,employment,social stability,charitable donations,and taxation.As a benchmark for local economic development,listed companies can bring about the role of “fixing the sea” for local economic growth,social stability,employment,and charity.However,listed companies are within the scope of government governance,and their survival and development are inevitably constrained by local government tax incentives,land supply,financial financing,and even order supply.In order to obtain the necessary resources in the company's management process,listed companies will also cater to the needs of local government officials to change business management decisions.Research literature has found that official heterogeneity,professional endowment,tenure,change,promotion,etc.have an important impact on business management.China is the ruling party of the Communist Party of China.As the “top leader” of the local government,the secretary of the municipal party committee(SMPC)not only shoulders the ideological and political construction,but also the cadre team.Under the basic line of economic construction,it also bears the responsibility of developing the economy.The company's management has a major impact.Therefore,this paper uses SMPC as a substitute variable for local government officials,combined with the data of listed companies in 2004-2016,using empirical methods to study the influence of the background characteristics of SMPC's age,education,professional and technical qualifications on the earnings quality of enterprises.Studies have shown that the older the party secretary,the better the earnings quality of the rulingly listed companies,and more prominent in private listed companies.Since most of the municipal party committee secretaries have the necessary academic qualifications for the selection and appointment,the influence of the municipal party secretary education on the earnings quality of listed companies is not obvious.A municipal party secretary with economic professional qualifications can significantly reduce the quality of earnings of his listed company.From the vertical dyad linkage of the SMPC-chairman's age,education,and professional and technical qualifications,which affects the company's earnings quality,if the age of the party secretary is greater than the age of the chairman of the ruling company,the quality of the listed company's earnings will be significantly reduced.Differences in technical qualifications will also significantly reduce the earnings quality of listed companies.However,because the academic qualifications of the municipal party committee do not constitute incentives,the differences in academic qualifications between the two parties have no significant impact on the earnings quality of listed companies.The conclusions of this paper further enrich the literature on the quality of officials and enterprises,corporate earnings,and open up the application of similar-attraction paradigm in the field of officials-chairman.