The Interaction Between Corporate Governance And Accounting Information Disclosure: Normative And Positive Research

Corporate Governance and disclosure of accounting information are the product of the modern enterprise system. They accompany, restraint, and promote each other, so there is a natural interaction between them, and they constitute an integral part for running of micro-economic of enterprises. Corporate Governance is the system of company's management and control. Its soundness or not has a direct impact on the healthy development of the listed companies and securities market, and its perfect or not constrain the quality of accounting information of listed companies. Meanwhile, sufficient and actual disclosure of accounting information has played an important role in reducing information asymmetry, and controlling adverse selection and moral hazard. They may make Corporate Governance to function effectively, and social resources to distribute effectively. If through theoretical and empirical research to find out the general law of relationship between them, on this basis to search a strength and breakthrough point of comprehensive solution to this issue, and coupled with long-term management mechanism, Corporate Governance and accounting information disclosure will be achieved positive interaction.In this paper, on the basis of the existing research, we have conducted systemic dynamic and special studies of the interaction between Corporate Governance and disclosure of accounting information. From the perspective of principal-agent theory, contract theory, Property Theory, and Stakeholder common governance theory and so on, we have carded theories and researched. We have made use of a double standard which includes the level of earnings management computed by Extended Jones model and the audit opinion as a bridge between them, then utilized Econometrics Methods involving descriptive statistics, test of mean difference, Logistic Regression Analysis etc to make a detailed empirical study of the correlation of them. Through theoretical and empirical research, we have found the ideas for resolving the inefficient recycling between Corporate Governance and accounting information disclosure finally, and have put forward the starting point and specific measures for promoting positive interactions between them.