我国上市公司会计信息披露质量研究
本站原创 论文中文摘要：我国上市公司会计信息披露案例白勺不断发生使人们对会计信息白勺可信度产生了深深白勺疑虑,引发了对上市公司会计信息披露白勺信任危机。证券市场白勺公开、公平、公正原则,必须通过一系列白勺信息供给、传递、评价、监管等白勺信息披露制度来实现。本文根据有效市场假说,对影响上市公司会计信息质量白勺因素进行分析,认为高质量白勺信息披露可以降低信息不对称程度,使股价更精确地反映会计信息披露质量,强化市场对公司管理层白勺约束。在此,我们也认为我国上市公司会计信息披露白勺高质量能够提高会计信息白勺价值相关性。通过模型进行分年度以及分等级进行数据分析。根据《深圳证券交易所上市公司信息披露工作考核办法》所公布白勺结果,根据一定白勺标准最终选定自2004年到2007年81个样本进行样本分析实证研究。通过样本白勺回归分析得出结论,随着证券市场白勺规范,会计信息披露质量呈逐年提高白勺趋势。会计信息披露质量能带来增量白勺价值相关性,高质量白勺会计信息价值相关性。最后建议健全上市公司内部治理,充分发挥证监会白勺作用,积极提高我国上市公司会计信息披露质量
Abstract（英文摘要）：www.328tibet.cn With the development of Chinese securities market, it is becoming more internationalization and standardization. The information disclosure system of securities market grows out of nothing, hing been initially formed an information disclosure system, and played a positive role in the maintaining of market order and protecting the investors interests. At the same time, we also see many problems in the disclosure of accounting information about Chinese listed companies, and disclosure of accounting information involving violations occur from time to time.The disclosure of accounting information related to the violations, which has caused tremendous harm to on the capital market and investors, and also causing serious losses to the state and the people. Accounting information of listed companies distortion seriously disrupted the operation of the securities market and misled investors, and serious damaged confidence of investors in listed companies, shaked foundation of the securities market and undermined the securities market’s transparency. It goes against the establishment and development of capital markets ,causing the capital markets not to be able to optimize the allocation directly and bringing the securities market mechani can not into full play, which seriously impact in the establishment of socialist market economic system.The cases of disclosure false accounting information about listed companies in China occur frequently, so that people he deeply doubts on the credibility of accounting information, and triggered the crisis of confidence in the disclosure accounting information of listed companies. The principles which is open, fair and just to achieve in securities market must pass a series of information supply, traner, evaluation and supervision of information disclosure system.Whether the functioning of securities markets is effective or not, based on the degree of information disclosure. The quality of company operations will eventually be integrated through the accounting information. After widely spreading the disclosure accounting information in the market, people who need those accounting information through screening, acceptance, then make a decision. Whether the company is listed at the beginning of the prospectus, notice of listing, or the medium-term and year-end financial reports, they are all sources of information in securities market.Therefore, researching in the issues of the accounting information disclosure about listed companies, and constructing the framework of accounting information disclosure about listed companies, make effort to improve efficiency in securities market. Standard accounting information disclosure not only theoretical but practical, and solve false accounting information problems, and promote the healthy development of securities market, finally achieve optimal allocation of resources function.Therefore, researching in the issues of the accounting information disclosure about listed companies, and constructing the framework of accounting information disclosure about listed companies, make effort to improve efficiency in securities market. Standard accounting information disclosure not only theoretical but practical, and solve false accounting information problems, and promote the healthy development of securities market, finally achieve optimal allocation of resources function.According to efficient market hypothesis, the article analyzes the factors which impact on the quality of accounting information of listed companies. It is thought that high-quality information disclosure can reduce the level of asymmetric information, stock prices more accurately reflect the accounting information, strengthening the market for the company’s management constraints. Meanwhile, we also believe that our accounting information disclosure of listed companies to improve the quality related value of accounting information. Through model-year prices and scaled for data analysis, According to results from "Shenzhen Stock Exchange listed company to disclose information of assesent methods,", selected 81 samples since 2004 to 2007 for analysis of empirical research. Through regression analysis of the samples come to the conclusion, with the stock market standard, disclosure of accounting information quality was improving year by year. The quality of accounting information disclosure will bring incremental value, high-quality accounting information related value. Finally we recommend to improve the internal governance of listed companies, fully play the C’s role and actively enhance the quality of accounting information disclosure in listed companies. The article structured as follows:The first chapter is introduction, the main is that the background and purpose of topics. With the constant development of securities market, the internationalization and standardization of the securities market is increasing, It has been remarkable progress in information disclosure quality of listed companies, which has played an important role in protecting interests of investors. However, we also see China accounting information disclosure of listed companies he many problems. Simultaneity reviewed the research degree at home and abroad, and foreign researchers studied the role of disclosing accounting information in listed companies, corporate governance structure and relationship of accounting information disclosure and so on, then suggest the necessity of improve the quality of accounting information disclosure in listed companies, and with empirical research and analysis of information transparency and disclosure of accounting information, and make relevant recommendations. The research in our country’s accounting information disclosure of listed companies, The analysis method is unifies the stock market accounting information disclosure creating a false impression serious at present, summed up the current problems in accounting information of listed companies, seek the reason from the economic, institutional and regulatory aspects, then give the suggestion, these studies he a positive significance.It is analyzed the quality of accounting information disclosure about listed companies in theory in Chapter 2.Firstly, before studying the quality of accounting information disclosure about listed companies, we must know some basic meaning of the term. It is defined accounting information, accounting information of listed companies, disclosure of accounting information respectively. Secondly, studying theory related accounting information. Finally, quoted in the International Financial Accounting Standards Board and the U.S. Finance Committee of the disclosure of accounting information quality characteristics, based on new corporate accounting standards in China, it is focused on the quality of accounting information disclosure standards and quality requirements.The third chapter analyses the factors on China’s listed company accounting information disclosure from stock market profit. Firstly, based on the supply of accounting information disclosure, this part discussed security market function, the supply cost of accounting information and internal governance structure and so on. Secondly, analyze from the demand of accounting information such as government, bank and investors. Finally, China’s accounting information disclosure needs to monitor with advanced measures and law system.According to the result from《The assesent measure of listed company Information disclosure work on Shenzhen Stock Exchange》, I finally choose 81 sample firms which contain the good disclosure evaluation firms and bad firms. Then I build up the simple price model to make empirical study based on Easton and Harris that I use the financial date from related database and the selected firm. Through regression analysis of the data model, we can make the conclusion that the proportion of the company which assesent results is excellent and good is increasing year by year. But it is noted that China’s accounting information disclosure level is not high that there is only 60% of whole result firms who he high quality accounting information disclosure, especially just 8% of them for excellent firms.The fifth chapter contains measures of standardizing the quality of listed company accounting information disclosure from the comprehensive management of many aspects. Firstly norm contracture of stock rights and corporate governance of China’s listed company, such as optimization of the company shareholding structure, perfection the functions of the securities market and corporate governance structure, giving full play to the role of the board of supervisors. Secondly foster effective accounting information for the main by developing institutional investors actively and improving the quality of the professional investors. At Last, complete management system of listed company accounting information disclosure which needs to regular the accounting standards and information disclosure system.At last, the sixth chapter makes the conclusions of this paper and the inadequacy of the article.
论文关键词： 会计信息；信息披露质量；模型；回归分析；
Key words（英文摘要）：www.328tibet.cn accounting information；the disclosure of information quality；price model；regression analysis；
Abstract（英文摘要）：www.328tibet.cn With the development of Chinese securities market, it is becoming more internationalization and standardization. The information disclosure system of securities market grows out of nothing, hing been initially formed an information disclosure system, and played a positive role in the maintaining of market order and protecting the investors interests. At the same time, we also see many problems in the disclosure of accounting information about Chinese listed companies, and disclosure of accounting information involving violations occur from time to time.The disclosure of accounting information related to the violations, which has caused tremendous harm to on the capital market and investors, and also causing serious losses to the state and the people. Accounting information of listed companies distortion seriously disrupted the operation of the securities market and misled investors, and serious damaged confidence of investors in listed companies, shaked foundation of the securities market and undermined the securities market’s transparency. It goes against the establishment and development of capital markets ,causing the capital markets not to be able to optimize the allocation directly and bringing the securities market mechani can not into full play, which seriously impact in the establishment of socialist market economic system.The cases of disclosure false accounting information about listed companies in China occur frequently, so that people he deeply doubts on the credibility of accounting information, and triggered the crisis of confidence in the disclosure accounting information of listed companies. The principles which is open, fair and just to achieve in securities market must pass a series of information supply, traner, evaluation and supervision of information disclosure system.Whether the functioning of securities markets is effective or not, based on the degree of information disclosure. The quality of company operations will eventually be integrated through the accounting information. After widely spreading the disclosure accounting information in the market, people who need those accounting information through screening, acceptance, then make a decision. Whether the company is listed at the beginning of the prospectus, notice of listing, or the medium-term and year-end financial reports, they are all sources of information in securities market.Therefore, researching in the issues of the accounting information disclosure about listed companies, and constructing the framework of accounting information disclosure about listed companies, make effort to improve efficiency in securities market. Standard accounting information disclosure not only theoretical but practical, and solve false accounting information problems, and promote the healthy development of securities market, finally achieve optimal allocation of resources function.Therefore, researching in the issues of the accounting information disclosure about listed companies, and constructing the framework of accounting information disclosure about listed companies, make effort to improve efficiency in securities market. Standard accounting information disclosure not only theoretical but practical, and solve false accounting information problems, and promote the healthy development of securities market, finally achieve optimal allocation of resources function.According to efficient market hypothesis, the article analyzes the factors which impact on the quality of accounting information of listed companies. It is thought that high-quality information disclosure can reduce the level of asymmetric information, stock prices more accurately reflect the accounting information, strengthening the market for the company’s management constraints. Meanwhile, we also believe that our accounting information disclosure of listed companies to improve the quality related value of accounting information. Through model-year prices and scaled for data analysis, According to results from "Shenzhen Stock Exchange listed company to disclose information of assesent methods,", selected 81 samples since 2004 to 2007 for analysis of empirical research. Through regression analysis of the samples come to the conclusion, with the stock market standard, disclosure of accounting information quality was improving year by year. The quality of accounting information disclosure will bring incremental value, high-quality accounting information related value. Finally we recommend to improve the internal governance of listed companies, fully play the C’s role and actively enhance the quality of accounting information disclosure in listed companies. The article structured as follows:The first chapter is introduction, the main is that the background and purpose of topics. With the constant development of securities market, the internationalization and standardization of the securities market is increasing, It has been remarkable progress in information disclosure quality of listed companies, which has played an important role in protecting interests of investors. However, we also see China accounting information disclosure of listed companies he many problems. Simultaneity reviewed the research degree at home and abroad, and foreign researchers studied the role of disclosing accounting information in listed companies, corporate governance structure and relationship of accounting information disclosure and so on, then suggest the necessity of improve the quality of accounting information disclosure in listed companies, and with empirical research and analysis of information transparency and disclosure of accounting information, and make relevant recommendations. The research in our country’s accounting information disclosure of listed companies, The analysis method is unifies the stock market accounting information disclosure creating a false impression serious at present, summed up the current problems in accounting information of listed companies, seek the reason from the economic, institutional and regulatory aspects, then give the suggestion, these studies he a positive significance.It is analyzed the quality of accounting information disclosure about listed companies in theory in Chapter 2.Firstly, before studying the quality of accounting information disclosure about listed companies, we must know some basic meaning of the term. It is defined accounting information, accounting information of listed companies, disclosure of accounting information respectively. Secondly, studying theory related accounting information. Finally, quoted in the International Financial Accounting Standards Board and the U.S. Finance Committee of the disclosure of accounting information quality characteristics, based on new corporate accounting standards in China, it is focused on the quality of accounting information disclosure standards and quality requirements.The third chapter analyses the factors on China’s listed company accounting information disclosure from stock market profit. Firstly, based on the supply of accounting information disclosure, this part discussed security market function, the supply cost of accounting information and internal governance structure and so on. Secondly, analyze from the demand of accounting information such as government, bank and investors. Finally, China’s accounting information disclosure needs to monitor with advanced measures and law system.According to the result from《The assesent measure of listed company Information disclosure work on Shenzhen Stock Exchange》, I finally choose 81 sample firms which contain the good disclosure evaluation firms and bad firms. Then I build up the simple price model to make empirical study based on Easton and Harris that I use the financial date from related database and the selected firm. Through regression analysis of the data model, we can make the conclusion that the proportion of the company which assesent results is excellent and good is increasing year by year. But it is noted that China’s accounting information disclosure level is not high that there is only 60% of whole result firms who he high quality accounting information disclosure, especially just 8% of them for excellent firms.The fifth chapter contains measures of standardizing the quality of listed company accounting information disclosure from the comprehensive management of many aspects. Firstly norm contracture of stock rights and corporate governance of China’s listed company, such as optimization of the company shareholding structure, perfection the functions of the securities market and corporate governance structure, giving full play to the role of the board of supervisors. Secondly foster effective accounting information for the main by developing institutional investors actively and improving the quality of the professional investors. At Last, complete management system of listed company accounting information disclosure which needs to regular the accounting standards and information disclosure system.At last, the sixth chapter makes the conclusions of this paper and the inadequacy of the article.
论文关键词： 会计信息；信息披露质量；模型；回归分析；
Key words（英文摘要）：www.328tibet.cn accounting information；the disclosure of information quality；price model；regression analysis；