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Top executives’ early‐life experience and financial disclosure quality: impact from the Great Chinese Famine

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  • Shouyu Yao
  • Zhuoqun Wang
  • Mengyue Sun
  • Jing Liao
  • Feiyang Cheng

Abstract

This study investigates the impact of top executives’ Great Chinese Famine experience on firm financial disclosure quality. We find firms led by top executives who experienced the great famine in early life are less likely to conduct fraudulent financial reporting. The famine effect is more pronounced in state‐owned enterprises (SOEs), smaller‐cap, lower‐profitability level firms and firms with weaker external monitoring. Further evidence suggests that top executives with great famine experience show greater tendency to implement secured debt structure, effective internal control and spend less on entertainment and travel costs, which in turn reduce the likelihood of fraudulent financial reporting.

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  • Shouyu Yao & Zhuoqun Wang & Mengyue Sun & Jing Liao & Feiyang Cheng, 2020. "Top executives’ early‐life experience and financial disclosure quality: impact from the Great Chinese Famine," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(5), pages 4757-4793, December.
    • Handle: RePEc:bla:acctfi:v:60:y:2020:i:5:p:4757-4793
    DOI: 10.1111/acfi.12659
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