高管信息技术背景与自愿性信息披露——基于业绩预告的实证分析

Managers’ Information Technology Background and Voluntary Information Disclosure:Evidence from Management Earnings Forecast

本文以2005—2016年我国A股上市公司为样本,基于业绩预告的视角,研究了高管信息技术背景对自愿性信息披露的影响。实证结果表明,具有信息技术背景高管的公司更倾向于自愿发布业绩预告,且这一关系在业务复杂度较高的公司中更为显著。进一步研究发现,企业对信息技术和信息系统的采纳和实施是高管信息技术背景影响自愿业绩预告的可能渠道。最后,高管信息技术背景还有助于提高上市公司自愿业绩预告的披露频率、及时性和预测精确度,且当信息技术背景高管是企业的CEO时,对自愿业绩预告可能性的提升作用更大。本文的发现有助于丰富相关文献,并为上市公司进一步完善治理结构提供经验证据。

Using a sample of Chinese A-share listed companies from 2005 to 2016,we investigate the relationship between managers’IT background and voluntary earnings forecasts.The empirical evidence shows that managers’IT background has a positive impact on voluntary earnings forecast.The effect is more pronounced for firms with more complex business.Further analysis shows that the adoption and implementation efficiency of IT and IS is the channel through which managers’IT background affects their voluntary disclosure.Finally,we find that managers’IT background can also improve their disclosure frequency,timeliness and precision.Positions that managers with information technology background work in have different effects on their willingness to disclose information.Our findings enrich the literature on managers’personal characteristics and earnings forecasts.This paper also provides empirical evidence for firms seeking to improve their governance.