State-owned Listed Company Governance Structure And Accounting Information Distortion

With the establishment of Hu and Shen stock market one after the other at the beginning of 1990's, security market has been becoming the main propellent of our socialism economy development and capital provider, and it is becoming more and more important. But there are more and more problems coming out recently, and the worst thing is no more than accounting information distortion (AID). Distorted AI illustration not only destroys the exertion of resource collocation function of security market but also agitates the base of security market development fundamentally. So how to ameliorate and improve our domestic public companies' accounting information quality (AIQ) has been an important subject not only to practices but to deciding departments and academe.As a special commodity, AI is distinguished from commodities; at the same time, they have the common ground, that is under supply-and-demand rule, AIQ is no more than repeated negotiation among suppliers, demanders and accountant office as a bridge between them. The difference is, to common commodities, all the deals and price fluctuating are going on naturally under supply-and-demand rule, and then make the optimized collocation come true. This is renowned "intangible hand" called by Adam Smith. And then market demand is satisfied and commodities are sold just directed by price. But AI has different characters, first, it belong to common product, and producers cannot decide who can get it once produced; second, every public company's AI cannot be substituted; third, public, public companies can't compensate information producing cost from information provision and only can less it as management expense for it's public character, so companies are lack of internal drive to improve information quality. According to the above, the supply and demand relationship of public companies' accounting information and it's illogical movement shows different character with common commodities, it doesn't realize selfish adjustment to reach supply and demand balance by price system and competition system like general commodities, but relies on government's intervene, the full satisfaction of supply and demand condition and structural optimization of AI is not selfish production process of producing market, but is out of government's intervene action.In our country, the research on the relationship of corporate managing structure and AIQ is abundant. Both domestic and foreign academic and positive research show public companies' managing structure is important to AOQ. This paper will try to demonstrate the effect of public companies' managing structure to AI suppliers and demanders and accountant office from theory through analyzing public companies' managing structure, and prove it will decide the AIQ process at last, and then provide a new thinking method for AID.