An Empirical Study On The Factors Of China’s GEM Listing Corporation Accounting Information Transparency Effect

Since the GEM in our country established in October 2009, all walks of life and a broad masses of investors were all keeping paying attention to it. The GEM is getting more and more mature, the number and scale of listed companies is growing quickly because of the low threshold of the GEM. However, with the expanding of the GEM, a lot of problems are appearing, such as the information disclosure of listed companies lack standardization, make false disclosure content and give not prompt disclosure. these problems harm the interests of minority shareholders and hindered the healthy development of securities market. Only improve the information transparency of the listed company of GEM can better protect the interests of investors, and can better realize the efficiency and fair of the capital market. So, in this paper, the transparency of accounting information of listed companies of GEM will be the research topic, analyze the related factors influencing the accounting information transparency of listed companies of GEM, and expect to put forward countermeasures to promoting the accounting information transparency of listed companies of GEM.This paper firstly illustrates the meaning of the accounting information transparency and the two aspects of the research results at home and abroad of accounting information transparency factors. Secondly,expounds the relevant theoretical basis of the study of accounting information transparency and the method of measure, and points out the measure methods of the accounting information transparency; Thirdly, analyze the growth enterprise market development in our country and the accounting information disclosure condition; At last, through the empirical analysis, analyze the related factors which influence the information transparency of listed companies of GEM in China, and improve the corresponding countermeasures of accounting information transparency of listed companies of GEM in China.The study found that the China’s GEM listed companies equity concentration,the proportion of independent directors, the executives shareholding, the irregularities and timeliness of annual report disclosure,the accounting firms, the corporate social responsibility information disclosure, the related party transaction number have a significant impact on the transparency of accounting information, the scale of board of directors, the ownership restriction, the board of directors diligence,the scale of board of supervisors, the chairman and general manager have no significant effect on the transparency of accounting information. Therefore, the GEM listed companies have to constantly optimize the equity structure, to improve the board system, improve the independence of the board of supervisors; to constantly improve the grade separation of the two system to supplement; the criterion of related party transactions; while also to increase the disclosure supervision of the GEM listed company accounting information.