The Research On Accounting Information Disclosure's Demand And Supply In Security Market In China

Security market is important part of market economy, its degree of development is important symbol of nation's economy development degree. Security market is also the habitat of all kinds of information, top-quality information disclosure is the basis of security market's efficient run. Demonstration research indicates that our security market is tend to become weakly effective market, and is during the phase of transition to half-strong efficiency market. In order to upgrade our security market's efficiency, the reform on accounting information disclosure is imperative.The thesis combines method of precept research with demonstration research, researches on accounting information disclosure in our security market from demand and supply, in order to find the method to accelerate equilibrium between accounting information disclosure's demand and supply. The thesis studies the theory basis of accounting information disclosure's demand and supply from the angles of economics and management, and provides theory foundation for further research. From the angle of demand, the thesis contrasts accounting information's demanders at home and abroad, analyzes domestic demanders' characteristic, and rebuilds up the feature system of quality of accounting information which takes authenticity as accounting information disclosure's premise feature by precept research. From the angle of supply, the thesis studies the actuality of accounting information disclosure's supply by statistical analysis. We collect data from annual report and list companies' web, contrast four features including authenticity, integrality, sufficiency and relativity, and analyze them. From which we find: First, illusive statement exists in quantitative information and qualitative information in annals. Second, in annals, quantitative information's disclosure is quite complete, but qualitative information's disclosure avoids the important and dwell on the trivial. Third,non-compulsive information and internet financial report's disclosure are insufficient. Forth, the annals disclosure's schedule is unbalance and the time changes continually, and the form of traditional reports is singleness. At last, the thesis discusses how to accelerate the equilibrium between accounting information disclosure's demand and supply further. In details, on the demand, the main is to improve the diathesis of small and medium investors, boost up institutional investors and securities analysts' specialty ability. On the supply, the main advice includes: First, improving accounting information disclosure's authenticity through perfecting corporate government's structure and the system of accounting information disclosure. Second, improving accounting information disclosure's sufficiency through enriching annals and internet financial reports' content. Third, improving accounting information disclosure's relativity through importing the idea of event accounting.