CFO 's Famine Experience and Earnings Management: The Moderating Effect of the CEO Power
研究中国上市公司CFO的饥荒经历如何影响盈余管理，发现CFO的饥荒经历会减少盈余管理，提升财务报告质量，但CEO权力过大会削弱这一效应。
ABSTRACT This study examines the impact of CFOs' famine experience on earnings management practices in China. Using data from Chinese listed firms over the period 2010–2021, we document a negative association between CFOs' famine experiences and earnings management practices (accruals and real activities). These findings are in line with the imprinting theory assumption that early life experiences imprint and shape individuals' personalities and behaviours. We also find that CFOs with such formative experience are likely to enhance financial reporting quality by reducing earnings management in firms with less powerful CEOs, while it diminishes in firms with CEOs who have strong control over the firm. The results remain consistent and robust after addressing endogeneity concerns. This study contributes to the existing literature in this regard.