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The effect of accounting academics in the boardroom on the value relevance of financial reporting information

Author

Listed:
  • Huang, Haijie
  • Lee, Edward
  • Lyu, Changjiang
  • Zhu, Zhenmei
Abstract
We examine whether accounting academics on the board of directors affect their firm's financial reporting quality. While regulations mandate firms to include financial experts as outside directors to enhance transparency, there is also a shortage of suitable individuals with both the relevant expertise and the appropriate management and communication skills. Although increasing evidence suggests that academics as outside directors improve firm performance, previous studies do not focus on the role of accounting professors per se on accounting quality. The prevalence of hiring academics as outside directors renders China a suitable research setting. We observe greater value relevance of reported earnings when accounting academics serve as financial experts in the board, especially in firms where their influence is expected to be more pronounced. Our evidence implies that accounting scholarship contributes to the efficiency of the capital market, and can potentially supply the boardroom demand for financial experts.

Suggested Citation

  • Huang, Haijie & Lee, Edward & Lyu, Changjiang & Zhu, Zhenmei, 2016. "The effect of accounting academics in the boardroom on the value relevance of financial reporting information," International Review of Financial Analysis, Elsevier, vol. 45(C), pages 18-30.
    • Handle: RePEc:eee:finana:v:45:y:2016:i:c:p:18-30
    DOI: 10.1016/j.irfa.2016.02.003
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    6. Liqiang Chen & Hong Fan & Xiaofei Song, 2023. "Impact of professor‐directors on Chinese firms' environmental performance," International Review of Finance, International Review of Finance Ltd., vol. 23(4), pages 696-720, December.

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    More about this item

    Keywords

    Board of directors; Financial experts; Accounting academics; Value relevance; China;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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