Study On The Relationship Between The Characteristic Of Independent Directorate And The Quality Of Accounting Information Disclosure

Information disclosure of listed companies is not only the legal obligations of listedcompanies in our country,but also the basis of investors to identify the quality of companyand to make investment decisions.But there is concern that the quality of accountinginformation disclosure of listed companies in our country is not good enough.In recentyears, a series of financial scandals and disclosure of false information happening in abranch of listed companies in China,such as Wanfu Biotechnology case, Green-LandBiological Technology case. The causes of non-standardization of China’s listed companiesin disclosing financial accounting information is not various malpractice by accountantsand certified public accountants,but have deeper causes such as deficiency on companyfather frame and corporate governance functions. The shareholding concentration ratio ofChinese listed companies is rather high, larger shareholders have enough control right toharm the benefits of minority shareholders.So the core of modern corporate governance inour country is the interest conflicts between large shareholders and minor shareholders.Controlling shareholder violate the benefits of the investors though false accountinginformation and related transaction.In order to improve corporation management construction, China SecuritiesRegulatory Commission has introduced the independent director system. On the onehand,the independent directorate system can restrain the acts that major shareholder violatethe benefits of minority shareholders,on the other hand it can supervise behaviors ofmanagerial personnel. The independent directorate system have an important role incorporate governance.This article used2009-2011in Shenzhen Stock Exchange main board listedcompanies’ data for the sample to research the relationship between the characteristic ofindependent directorate and the quality of accounting information disclosure.Throughbuilding models,we can find which characteristics of independent directors in China canaffect the quality of accounting information disclosure and propose measures to improvethe quality of accounting information disclosure.