| In recent years, with the fast development of institutional investors, mainly Security Investment Fund, and reform of stock structure in 2005, security investment fund holding and accounting earning quality have to change. To the reform of stock structure in the background, studies the relationship between security investment fund holding and accounting earning quality in order to reflect institutional investors'change in respect of corporate governance and their investing trend toward accounting earning quality.This thesis can be devided into two parts, theoretical part and empirical part. The theoretical part tries to analysize the relationship of security investment fund holding, accounting earning quality and corporate governance. In empirical part, by sudden change in the reform of stock structure, and analysis of trends. The other hand, the models of change and to the relevance of change.Conclusions are as follows: (1) reform of stock structure not to affert the the relationship of security investment fund holding and accounting earning quality. (2) After the reform, the degree of institutional investors'participation in corporate governance has increased, but not stabile. It reflects that ratio of institutional investors holding is one factor, but not the most important one. In order to remain the active influence, companies must improve institutional investors'quality and ability. (3) Institutional investors do not pay attention to the accounting information. Also shows that the quality of accounting information about the effects of institutional investors is very weak. (4) Investors in the financial area imitate each other, which makes them take the same investment strategy reusting a higher degree of consistency and convergence in the investment behavior.Finally, this thesis adhere to the split share structure reform to guide and encourage the active participation of institutional investors in corporate governance, and improve the capital markets. |
