The impact of US experience on financial reporting comparability between Chinese firms and their US industry peers

IF 9.8 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-09-08 DOI:10.1016/j.irfa.2025.104631

Ao Shu , Ziru Lian , Lili Jiu , Wei Zhang , Fengwen Chen

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引用次数: 0

Abstract

This paper explores the effect of US-experienced managership on financial reporting comparability. By analyzing a sample of Chinese A-share companies listed on the Shanghai and Shenzhen Stock Exchanges from 2008 to 2020, we discover that firms with US-experienced managers appointment exhibit greater comparability to US peers. Further, the positive relationship between US-experienced managers and financial reporting comparability is more pronounced when the managers have practical work experience and master's degree in the US. Considering external factors, the presence of US experience within firms enhances comparability more effectively when the firms operate in less competitive industries and more developed regions. In addition, we demonstrate that firms with US-experienced managers attract greater foreign investment, are more likely to achieve successful overseas IPOs, and exhibit lower analyst forecast dispersion, driven by heightened comparability. The findings indicate that enhanced comparability is the key mechanism drawing foreign investors and facilitating the firm's expansion into international markets.

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美国经验对中国公司与美国同行财务报告可比性的影响

本文探讨了具有美国经验的管理层对财务报告可比性的影响。通过对2008年至2020年在沪深两市上市的中国a股公司样本的分析，我们发现任命具有美国经验的经理的公司与美国同行表现出更大的可比性。此外，具有美国经验的管理者与财务报告可比性之间的正相关关系在具有美国实际工作经验和硕士学位的管理者中更为明显。考虑到外部因素，当公司在竞争较弱的行业和较发达的地区运营时，公司内部美国经验的存在更有效地增强了可比性。此外，我们证明，拥有美国经验的经理的公司吸引更多的外国投资，更有可能实现成功的海外ipo，并且在可比性增强的推动下，分析师预测的差异更小。研究结果表明，提高可比性是吸引外国投资者、促进企业向国际市场扩张的关键机制。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.