Study On The Adequacy Of Accounting Information Disclosure Of Listed Companies

The disclosure system of China's listed companies is based on mandatory disclosure,supplemented by voluntary disclosure. But with the development of securities market,investors' demand for accounting information of listed companies is increasing, voluntarydisclosure is constantly transforming to mandatory disclosure, the contents of voluntarydisclosure are more and more rich. In such circumstances, what is the current situation ofthe adequate accounting information disclose of listed companies, what factors affect thefull disclosure of accounting information, these are worthy to study. This study aims toevaluate the current situation of accounting information disclosure adequacy of listedcompanies and analyze the factors of accounting information disclosure adequacy usingempirical methods, and provide theoretical references and policy recommendations forimproving the accounting information disclosure adequacy.Firstly, the relevant concepts about the disclosure of accounting information of listedcompanies are defined, and the historical evolution and related theories of accountinginformation disclosure are examined, which are the basis for the study of full disclosure ofaccounting information.Secondly, the concept of adequacy accounting information disclosure is defined,which clears the goal, the content and the two contrary situations of the full disclosure ofaccounting information; on this basis, this paper builds a three dimensional evaluationsystem from the quantity, quality and efficiency to evalue the full disclosure of accountinginformation; then choosing accounting information disclosure in2010of the ShenzhenStock Exchange listed companies as a sample space, this paper studies and examines thepresent situation of full disclosure of accounting information.Thirdly, this paper analyzes the reasons for inadequate disclosure of accountinginformation from four levels, which are accounting generation, accounting disclosure,auditing efficiency, market environment, then proposes hypotheses. In this paper, theadequacy of accounting information which is transformed is dependent variable, relatedfactors as explanatory variables, with which multiple regression model is established. Weconduct regression analysis use PASW Statistics software, and explain the current situation of accounting information disclosure adequacy based on regression results.Finally, based on empirical results, this paper elaborate five measures to improveaccounting information disclosure adequacy, which are improving the accountinginformation disclosure system, improving the company's internal governance mechanisms,improving the company's size and profitability, expanding the scale of public accountingfirm and extending the company's capital markets.