Research On The Effects Of The Chinese Listed Companies' Ultimate Controller To Accounting Information Transparency

Many from researches from the domestic and overseas find that the ownership of company is focused rather than scattered,and most companies have an ultimate controller. Ultimate controllers have important influence on information disclosure because of their high control rights. And different kinds of the ultimate controllers have different influence on company. So the research on the accounting information transparency start from the viewpoint of ultimate controller and combine with the kinds of the ultimate controllers, which is important to improve the accounting information transparency of Chinese companies.This paper mainly researches the effects of ultimate controller to accounting information transparency. Firstly, this paper introduces the background and the significance of the topic selection, makes a summary on the effects of ultimate controller to accounting information transparency from the domestic and overseas, deeply analyses the effects of the ultimate controller to accounting information transparency.Secondly, this paper selects the Shanghai stock exchange a-share listed companies as the research object, finds the real controller-the ultimate control by tracing the control chain. In order to making an intensive study on the issues of ultimate controller and accounting information transparency, this paper establish the model to test the influence of different ultimate controller, control right, cash flow right and the separation of control right and cash flow right on the accounting information transparency by using descriptive statistics, Pearson correlation analysis, multiple linear regression method. In order to make a more targeted the conclusion, this paper use the datum from the state-owned listed companies and the datum from the private listed companies, to separately analysis the influence of the ultimate controller to accounting information transparency.The result shows that accounting information transparency of the state-owned listed companies is higher than that of private listed company; With the increase of control right of ultimate controller, accounting information transparency of stated-owned listed company increase significantly, but that of private listed company decrease significantly; With the increase of cash flow right of the ultimate controller, accounting information transparency of the stated-owned listed company and the private listed company increase significantly; With the increase of separation of control right and cash flow right, accounting information transparency of the stated-owned listed company and the private listed company decrease significantly.Finally, according to the results, this paper puts several suggestions to improve accounting information transparency: Implement and improve the information disclosure system As soon as possible and strengthen its implementation; Establish accounting information transparency evaluation index system to measure accounting information transparency of china's companies; Fully exert the incentive effect of the control right in state-owned listed companies, allow the state-owned companies to have appropriate control right under the process of gradually reducing control right of the ultimate controller; Establish the information disclosure supervision system of private listed companies, and focus on some companies.