Top Management Team Characteristics and Financial Reporting Quality
研究发现高管团队背景同质性和长期共事经历会提高财务重述概率，且与正向盈余管理动机下的可操控应计利润正相关，独立董事比例和任期会调节这一影响。
ABSTRACT The accounting literature often views managers as individuals whose financial reporting decisions are determined by their economic incentives and individual characteristics. However, managers typically work in a team and most decisions have at least some input from other members of the team. This study examines the impacts of two top management team (TMT) characteristics on financial reporting quality. The results indicate that background homogeneity and long-shared working experience are each distinctly related to a higher likelihood of restatements. Additional tests document that team homogeneity and shared experience also are positively associated with discretionary accruals for firms with income-increasing earnings management incentives. Moreover, the impact of TMTs on financial reporting quality varies with the proportion and tenure of independent directors. These findings indicate that top management team characteristics are important determinants of financial reporting quality. JEL Classifications: G34; M14; M41; M54.