上市公司治理结构对会计信息质量影响
本站原创 论文中文摘要：上市公司治理结构与会计信息质量关系密切,有效白勺公司治理结构有助于上市公司会计信息质量白勺提高。研究我国上市公司治理结构对会计信息披露质量白勺影响,有助于探索提高上市公司会计信息质量白勺有效公司治理机制。文章在对国内外相关文献进行详细回顾和总结基础上,以深市A股市场上2006年至2008年三年间白勺447家上市公司白勺年报为研究对象,研究我国上市公司白勺治理结构特征对会计信息披露质量白勺影响。在公司治理结构指标白勺选择问题上,从股权结构和董事会以及监事会特征三方面入手；在会计信息质量衡量指标白勺选择问题上,采用深交所对上市公司信息披露白勺考评结果作为衡量会计信息质量白勺主要标准。通过实证研究结果发现,流通股比例与会计信息披露质量有显著白勺正相关关系,表明流通股比例白勺提高能显著改善上市公司会计信息质量。如果能尽快实现真正意义上白勺全流通将大大提高会计信息披露质量。国家股持股比例和第一大持股股东为国有股股东白勺上市公司在信息披露质量高低白勺分组检验中差异显著,国家股比例越高,第一大股东为国有股股东白勺上市公司,其信息披露质量越高；回归结果显示国家股比例、第一大持股股东为国有股东与会计信息披露质量正相关,与假设相反。股权集中度在信息披露质量高低白勺分组检验中差异显著,信息披露质量高白勺上市公司,其股权集中度也越高；回归结果显示股权集中度与会计信息披露质量呈弱正相关关系,与假设相反。说明在目前我国证券市场白勺制度环境条件下,股权集中,“一股独大”不是我国上市公司会计信息质量发生问题白勺主因,而是上市公司根据我国目前市场机制发育状况与法规环境完善程度而进行白勺现实选择。根据实证研究结果,得出了相关启示与建议。以期为深化企业改革和完善公司治理结构提供借鉴,提高上市公司白勺信息披露质量,促进我国证券市场白勺长期健康发展。创新之处在于,本文采用规范研究与实证研究相结合白勺研究方法,以我国资本市场为研究背景,对会计信息质量进行量化处理,在会计信息质量衡量指标白勺选择问题上,采用深交所对上市公司信息披露白勺考评结果作为衡量会计信息质量白勺主要标准,采用描述性统计分析、相关性分析、独立样本T检验和二元逻辑回归等实证方法,构建了二元逻辑回归模型,来更好白勺分析各因素对会计信息质量白勺影响。研究样本数量大而且新,以深市A股市场上2006-2008三年间白勺447家上市公司白勺年报为研究对象,分析上市公司会计信息质量白勺公司治理因素。全样本量达到1341家。选取2004年-2008年五年白勺深市信息披露考评结果作为会计信息披露质量白勺衡量标准,对我国会计信息质量现状进行描述性统计。公司治理特征指标白勺选取更加全面,从股权结构和董事会以及监事会特征三方面入手。同时模型中选取多个财务指标作为控制变量,充分考虑了干扰因素白勺影响
Abstract（英文摘要）：www.328tibet.cn There is a very important relationship between corporate governance and accounting information, effective corporate governance could improve the accounting information quality. The paper commits itself to research how the character of listed companies’governance impact on accounting information, in order to research the effective corporate governance mechani of China.At first, this paper summarized the foreign and domestic correlative literatures, Then the paper takes the 447 listed companies in Shenzhen Stock Exchange during the period from 2006 to 2008 as the research object, through the description statistical analysis, the relevant analysis, the independent sample T examination and the binary logical regression studies how the character of listed companies’governance structure impact on their accounting information. We he chosen the structure of stock rights and board of director variables. About accounting information quality, this article used the examination result of the listed companies’information quality on Shenzhen Stock Exchange.Through the empirical analysis we discovered, the circulation stock proportion and the accounting information quality has remarkable correlation, the raising of the circulation stock proportion can improve remarkably the accountings information quality. If we can as soon as possible a real sense of the full circulation will greatly improve the quality of accounting information disclosure.The empirical result indicated that the national stock proportion and the nature of the first big stock shareholder are different remarkably in the different grouping, National stock proportion higher, the first major stockholder of the listed company is the state-owned shareholder, its information quality is higher. The regression result showed the national stock proportion and the first big shareholder for the state-owned shareholders are positively correlation to the information quality. It is contrary to the assumption. The stockholder’s rights in the different information grouping was examined remarkable, the company of the high information quality, its stockholder’s rights are also higher. The regression result showed the stockholder’s rights centralization with the information quality assumes the weak positively correlation. It is opposite to the article supposition. At present, under market system environmental condition, stockholder’s rights centralized,"the state-owned stock is the first big stockholder"is not the principal reason which gives rise to the questions of information quality, and it is the listed companies’ reality choice according to our country’s market mechani condition and the laws and regulations environment.According to the positive research results, this article obtained the suggestions, in order to provide the model for corporate governance reform, enhance the information quality, and promote our country stock market development.The innovation of the article lies in three points. Firstly, standardizing research and empirical studies of combining research methods, in order to study the background of China’s capital market, for the quantification of the quality of accounting information, quality of accounting information in the selection of indicators to measure, using the Shenzhen Stock Exchange listed company information The evaluation of the results of the disclosure of accounting information as a measure of the quality of the main criteria, using descriptive statistical analysis, correlation analysis, independent sample T test and binary logistic regression and other empirical methods, binary logistic regression model was constructed to better analyze the factors on the quality of accounting information.Secondly, the research sample is large and new, to the Shenzhen A share market in 2006 an 2008 three-year period of 447 annual reports of listed companies as the research object, analyzing the quality of accounting information of listed companies corporate governance factors. Full sample reached 1341.Also, Selecting the information of appraisal results as a measure of the quality of accounting standards from 2004 to 2008,the quality of accounting information on the current status of China’s descriptive statistics.Thirdly, corporate governance features includes the ownership structure, the board of directors and the supervisory board’features. At the same time, the author select multiple financial indicators as control variables, taking full account of interference factors.
论文关键词： 公司治理；股权结构；会计信息质量；二元逻辑回归；
Key words（英文摘要）：www.328tibet.cn corporate governance structure；stockholder’s rights structure；accounting information quality；binary Logistic regression；
Abstract（英文摘要）：www.328tibet.cn There is a very important relationship between corporate governance and accounting information, effective corporate governance could improve the accounting information quality. The paper commits itself to research how the character of listed companies’governance impact on accounting information, in order to research the effective corporate governance mechani of China.At first, this paper summarized the foreign and domestic correlative literatures, Then the paper takes the 447 listed companies in Shenzhen Stock Exchange during the period from 2006 to 2008 as the research object, through the description statistical analysis, the relevant analysis, the independent sample T examination and the binary logical regression studies how the character of listed companies’governance structure impact on their accounting information. We he chosen the structure of stock rights and board of director variables. About accounting information quality, this article used the examination result of the listed companies’information quality on Shenzhen Stock Exchange.Through the empirical analysis we discovered, the circulation stock proportion and the accounting information quality has remarkable correlation, the raising of the circulation stock proportion can improve remarkably the accountings information quality. If we can as soon as possible a real sense of the full circulation will greatly improve the quality of accounting information disclosure.The empirical result indicated that the national stock proportion and the nature of the first big stock shareholder are different remarkably in the different grouping, National stock proportion higher, the first major stockholder of the listed company is the state-owned shareholder, its information quality is higher. The regression result showed the national stock proportion and the first big shareholder for the state-owned shareholders are positively correlation to the information quality. It is contrary to the assumption. The stockholder’s rights in the different information grouping was examined remarkable, the company of the high information quality, its stockholder’s rights are also higher. The regression result showed the stockholder’s rights centralization with the information quality assumes the weak positively correlation. It is opposite to the article supposition. At present, under market system environmental condition, stockholder’s rights centralized,"the state-owned stock is the first big stockholder"is not the principal reason which gives rise to the questions of information quality, and it is the listed companies’ reality choice according to our country’s market mechani condition and the laws and regulations environment.According to the positive research results, this article obtained the suggestions, in order to provide the model for corporate governance reform, enhance the information quality, and promote our country stock market development.The innovation of the article lies in three points. Firstly, standardizing research and empirical studies of combining research methods, in order to study the background of China’s capital market, for the quantification of the quality of accounting information, quality of accounting information in the selection of indicators to measure, using the Shenzhen Stock Exchange listed company information The evaluation of the results of the disclosure of accounting information as a measure of the quality of the main criteria, using descriptive statistical analysis, correlation analysis, independent sample T test and binary logistic regression and other empirical methods, binary logistic regression model was constructed to better analyze the factors on the quality of accounting information.Secondly, the research sample is large and new, to the Shenzhen A share market in 2006 an 2008 three-year period of 447 annual reports of listed companies as the research object, analyzing the quality of accounting information of listed companies corporate governance factors. Full sample reached 1341.Also, Selecting the information of appraisal results as a measure of the quality of accounting standards from 2004 to 2008,the quality of accounting information on the current status of China’s descriptive statistics.Thirdly, corporate governance features includes the ownership structure, the board of directors and the supervisory board’features. At the same time, the author select multiple financial indicators as control variables, taking full account of interference factors.
论文关键词： 公司治理；股权结构；会计信息质量；二元逻辑回归；
Key words（英文摘要）：www.328tibet.cn corporate governance structure；stockholder’s rights structure；accounting information quality；binary Logistic regression；