The Impact Of Accounting Earnings Quality And Board Structure On Stock Price

Compared with the foreign capital market, capital market in China is not perfect, far from being to a strong and effective degree. There is steal a research and exploration field. In the economic environment, the effect of accounting information play as an "indicator". With the unceasing change of capital market, the content of the accounting information is also constantly enriched. About the study of accounting surplus in our country, it always is a familiar topic.In a certain time period,accounting surplus as the most significant index can reflect the company business success.It has been widely recognized with high information content.It is an important hub in the key are in the accounting theory and practice field.Structure of the board of directors is the part of the corporate internal governance structure.It has the role of the core.It also occupies an irreplaceable position.It plays an essential role in the three yuan mode,which is contains shareholder, the board of directors and managers. Therefore, the reasonable structure of the board of directors is the premise of guarantee to be the decision-making functions and supervisory function. Both respond to the company’s stock price. This paper is the study of quality of accounting surplus and board structure on the impact of stock prices. It puts forward the concrete policy suggestions to these problems.The study of quality of accounting surplus and board structure on the impact of stock prices,basing on the Shanghai stock exchange and Shenzhen stock exchange issued a-share listed companies as samples, and on the basis of O F model.The study uses the scale of the board of directors, the proportion of independent directors and the professional committee of number.It has established three model, respectively to study the effect of quality of accounting surplus of stock prices, the board structure on the influence of the stock and the quality of accounting surplus and board structure on the impact of stock prices. Multiple linear regression model was used to study the various indicators and the correlation of stock prices. The empirical analysis mainly include descriptive statistics analysis, correlation analysis, regression analysis and robustness testing.Empirical study results show that the accounting surplus is to determine the influence factors of stock price as a very important key. Earnings management is closely related to the quality of accounting surplus.Therefore, the regulation of earnings management can make stock prices.The board size is larger, the more "free-rider" phenomenon appear.It results in the lack of efficiency of directors.It exertan negative impact on corporate governance.It eventually be reflected in stock prices fall.Therefore,controlling the size of the board of directors is important.High proportion of independent directors can make independent directors in the board of directors to play a strong guiding role.It not only stands for the social equity and justice, but also maintain the company’s interests.It improves the company’s core competitiveness.It indirectly contributes to the company stock prices.Professional committee didn’t get role played very well in our country.It is still in its stage of development,without full understanding and dealing with the company’s various affairs.Therefore,it need to strengthen the professional committee of job functions, and to improve the work efficiency.In a certain extent,the discretion of the price of a stock is affected by the board of directors.The quality of the surplus information can drive the stock price rising from the compact size of the board.At the same time it also shows the function of independent directors in China needs to be further improved.It also needs to implement responsibility of independent directors in listed companies.