Research On Value Relevance Of Accounting Information Under The Influence Of Internal Control And Media

The multiplier effect in the economics indicates that is meaningless for decision without value relevance of accounting information.This is the original intention of this paper studies the value relevance of accounting information.Based on the U.S.market research,we found that the more serious the defects of internal control,the less the corresponding value relevance of accounting information,and there is correlation between the lower accounting information value and internal control with defects.High quality of the internal control is associated with higher value of accounting information? This is the first item in this paper what we study.The impact of media function of the stock market has got widely recognized of researchers,according to the paper about the definition of value relevance is directly related to the stock price,so the media function influence accounting information value relevance theory can be proved.This is the second item in this paper what we study.There is interactive effect between corporate governance mechanisms,not exist alone,it has difference governance emphasis of external supervision and internal control.The good play of external supervision can constraint managers' opportunistic behavior,the management have to make shareholders and the company value maximization as the goal,the goal of internal control is to curb "bad for me",and promote "good for me ",and ensure company maximize the value of the company without offending.The end result is the same as external supervision and internal control;it also ensures that the possibility of interaction between them,it also for the interaction of the internal control and media function provides the opportunity.This is the third item in this paper what we study.We draw lessons from the existing research results,We divide internal quality control for high quality medium quality and low quality,and divide media reports for positive and negative,and discusses the value relevance of accounting information.We break through the existing research on the premise that the defect of the internal control research scope,compared with income model,a more objective,comprehensive price model is empirically tested,the results show that the high quality significantly positively related to the internal control and value relevance of accounting information,and negative to the separate research negative media reports on the effects of value relevance of accounting information,the internal control and negative media reports interactions and significantly positively related to the accounting information value relevance,this is because the media's negative reports to improve the efficiency of the internal control management,At the same time,the governance efficiency of the internal control and weakening the negative influence of negative reports,positive and negative reports on internal control governance efficiency is greater than the negative influence of negative reports.In order to guarantee the robustness of the results,based on the DIB release instead of the internal control internal control index score,whether the media reports of listed companies instead of medium test function.By Heckman's Two-step method to eliminate the selection result in the internal control of the effect of endogenous,and the results are still support the above hypothesis.Finally,we suggest from the macroscopic aspects shall establish a sound legal system,reduce government intervention,safeguard the freedom of the media supervision,the micro-level enterprises shall both give consideration to comprehensiveness and practicability of the internal control to improve the accounting information value relevance and so on several aspects put forward countermeasures and suggestions.