The Research On The Factors Influencing Timeliness Of Annual Reports Of Chinese Listed Companies

As the main product of the accounting information system, the annual report of listed companies is embodiment in the achievement of enterprise accountant activities. With the increasing of important of the important in capital market and the improvement of investor's request for the timeliness, the study of annual reports demonstrates the profound significance day by day.Based on the studies of timeliness by domestic foreign scholars, the paper puts forward integration structure model of timeliness of annual reports, and use the method of quantitative and qualitative to research. Collecting annual reports from the Chinese listed on the Shanghai and Shenzhen stock exchange during 2004-2007, this paper analyze disclosure delay, earnings quality, the proportion of independent directors by using Mean Test and Multivariate Regression, in order to find out the main determinants and their influencing means to the timeliness of annual reports. This paper also used the way of event study to research the impact factors to the timeliness of annual reports.The conclusion of this paper indicates that Top 10, EPS, Opinion, have influenced the timeliness of reports by a certain extent. But Earnings Quality, Assets, LEV, CPA firm have nothing to do with the timeliness of annual reports.The main results of this Paper are:First, inspecting influencing factors to the timeliness of annual reports, the author believes that the timeliness of annual report has been affected by earnings management behavior. Earnings quality has been included in the study model, which broadens the research horizon and makes up China's current lack of research in this area.Second, by comparing the differences of the timeliness of annual reports before and after the implementation of CAS (2006), tests that CAS (2006) has improved the timeliness of annual reports'disclosure. Not only investors and creditors are affected by the timeliness of annual reports and the quality of accounting information, but also related to the conclusion of capital market and national economic prosperity. This paper analyzes the timeliness of annual report in the specific circumstances of our country, which has a certain Practical significance on how to improve the quality of accounting information, protecting the interest of the investors and enhance efficiency in the capital market.