The Research Of The Public Company Accounting Information Disclosure In Time

In the stock market, the Accounting information is essential, it is an important basis to connect the listed company and the general information users, it is also an tool in the investors invest decision-making for the securities market, and it plays a certain role for the securities market healthy operation. Update information disclosure can reduce the information asymmetry problem in the process of securities trading, also can reduce transaction costs and information search cost and so on, avoid adverse selection and moral hazard occurs. Making the stock prices can accurately reflects the company's value, and making capital flow to the high efficiency, improving the capital allocation efficiency of the securities market.The listed company annual report as an important accounting information carrier with annual financial position, operating results and cash flow and profit distribution and so on, with a relatively comprehensive content, it has important influence on dividend distribution, corporate governance, is an important source of information that investors know well the situation, so this article studied the annals information disclosed promptly problems.This article with related literature information asymmetry theory, signal transfer theory, transaction cost theory, the quality of the information theory, the principal-agent theory as the theoretical basis of research, reference to related method and conclusion, through theoretical research and empirical research combination method, standing in the angle of the investors, analysis the influencing factors of the China'empirical companies update information disclosure. Putting forward the research hypotheses, and by single factor analysis and construction method of multivariate regression model, to inspect the relationship between the assumed factors and the timeliness of listed companies information disclosure in empirical research process. Results showed that the company size, basic earnings per share, profit and loss situation, main business growth, whether it is ST, the auditing opinions type was issued, company industries as well as the area have effect with the timeliness of annual report disclosure,but audit institutions, asset-liability ratio and exchange factors have no effect with the timeliness of annual report disclosure .Finally, according to the results of the empirical research, and combining the current situation of the securities markets, putting forward some ideas and suggestions to improve our listed companies accounting information disclosure timeliness.