From the perspective of behavioral economic theory, this paper takes agency theory and cognitive evaluation theory as the basis, selects the data of China's listed companies for 2008-2015 years as the sample, and empirically studies the relationship among the peer reference gap, CEO external pressure and the quality of accounting information. The results show that:(1) the greater peer reference gap of CEO, the lower the quality of accounting information; (2) the pressure of external debt will strengthen the relationship between the peer reference gap and the quality of accounting information, which has the crowding-out effect; the pressure of analyst coverage will inhibit it, which has the governance effect. After considering endogenous problems, the above conclusions are still true. Further studies have found that the crowding-out effect of CEO external pressure on the relationship between the reference gap and the quality of accounting information is more significant in the state-owned enterprises and the short-term debt samples.