The Study Of Effects Of The Media On The Quality Of Accounting Information Disclosure

With the continuous development of China's capital market,many problems have emerged,and a series of problems brought about by the information disclosure irregularities have brought challenges to the work of the stock exchange and the SFC.2015 ShenZhen stock exchange has 72 listed companies punished by the Commission,which reflects the current listed companies still exist accounting information disclosure violations,indicating the quality of information disclosure is low,which need to be improved.Natural person and so on in the investment decision of the listed companies,to a large extent depend on the accounting information disclosed by the listed companies,so that the listed companies need a high quality of accounting information disclosure.As a bridge between the investors,the stock exchange,the Securities Regulatory Commission and the listed companies,the media forms an interactive system.The media will affect the listed companies,this paper studies the impact of the media on the listed companies from the angle of the quality of information disclosure.We review the research literature related to media attention,the nature of listed companies and the quality of accounting information disclosure.First of all,this paper makes a theoretical analysis on how the media reports affect the quality of accounting information disclosure and how to influence the listed companies with different ownership nature,and puts forward hypotheses.The main inspection of this paper are media reports and negative reports,non-negative reports will have an impact on the quality about accounting information disclosure,negative reports on the two kinds of nature of listed companies accounting information disclosure quality influence whether there are differences in non-negative reports.Then,empirical study.Hypotheses were tested by descriptive statistics,Pearson correlation analysis and Logistic regression analysis of the two variables.The study found that the media reports on the quality of information disclosure will not have an impact,but the existence of time lag.The results show that the media reports and negative reports,non negative reports and the quality of information disclosure is positively related to the quality of information disclosure,negative coverage has a significant impact on the quality of information disclosure of listed companies with two equity properties,but the difference is small,the impact of negative reporting on the quality of information disclosure of non-state-owned listed companies is more significant.Non negative reports will not affect the quality of information disclosure of state-owned listed companies,but there is a significant correlation with non-state-owned listed companies,there is a big gap between them.The research results put forward the following suggestions to listed companies,regulators and investors: listed companies should respond in a timely manner,as soon as possible to eliminate the negative impact of negative reports;listed companies should maintain a healthy interaction with the media,to accept media supervision;combined with the external governance function of media supervision.Institutions should give full play to the supervisory role;investors need to objectively treat the media reports,the investment decision needs consideration.There are two features in this paper.First,the media research is the relatively new and frontier research point in the current accounting research.It combines this two element,which makes the topic more novel.the research proves that the media reports will affect the quality of accounting information disclosure of listed companies.Hoping through the suggestions,the paper can improve the quality of accounting information disclosure and show a strong practical significance and practical value.