Research On The Effect Of Internal Governance Structure Of Companies On Accounting Information Transp Arency

The improvement of accounting information transparency not only helps to protect the interests of investors and promotes the healthy development of listed companies, but also increases of efficiency of the allocation of resources for capital market. However, the level of accounting information transparency of listed companies in China is low.The fundamental reason is that the internal governance structure of listed companies is faulty. In order to enhance the accounting information transparency and promote the healthy development of capital markets, we must perfect the internal governance structure and increase of efficiency of corporate governance.At first, the research in carries on the reorganization to the domestic and foreign related literature material to classify and to summarize in the refinement foundation,define the definition of information transparency, analyse the current situation of accounting information transparency and the causes of unsatisfactory transparency in depth. What's more,using data of listed companies which have A-shares on SHENZHEN EXCHANGE from 2005 to 2009 year,the research has established the ordinal regression model to exam the effect of internal governance structure of companies on accounting information transparency. The results of the actual research show that:Firstly,ownership concentration and accounting information transparency is significant negative correlation while the size of the board and accounting information transparency is notable positive correlation;Secondly,ownership balances degree,executives shareholding ratio and the establishment of audit committee have a positive significance for the improvement of accounting information transparency;Thirdly,the following factors are non significant to the impact of accounting information transparency:state holding ratio, the proportion of independent directors, pluralism of board chairman and CEO, the size of the board of supervisors, the number of meeting of the board of supervisors,etc.Finally,based on the previous paper's empirical study, from the persective of ownership structure,board effectiveness, board of supervisors effectiveness and manager incentives, proposed recommendations to enhance the level of accounting information transparency and promote the healthy development of capital markets.