The Influence of Overseas Background Directors on the Quality of Information Disclosure

This paper is aimed to explore the relationship between overseas background directors and the quality of information disclosure. Based on the background data of directors of Chinese listed companies from 2008 to 2017, our results show that: (1) overseas background directors can significantly improve the quality of information disclosure of listed companies; (2) compared with state-owned enterprises, overseas directors of private enterprises have a more significant impact on the quality of information disclosure. This study enriches the research on the influencing factors of information disclosure quality and the economic consequences of overseas background characteristics of senior executives, and has reference value for the selection and recruitment of management talents of listed companies, the improvement of enterprise information transparency and the maintenance of financial market stability.