The Empirical Study Of Listed Company Financial Restatements Impact Factors

With the improvement of financial restatement,capital market is more and more strict with quality of accounting information of listed companies.Published financial statements of listed companies,is the important way of the external investors and shareholders to understand the company's financial position,operating results and cash flow.Financial restatement is a kind of behavior that the listed company supplement the correction on the errors existing in the history report.The premise of financial restatement is an error in the early stage of the report.Financial restatement is not only caused the loss of investors,more to cause the attention of many scholars,The content of the financial restatement of listed companies involves a wide range,lack of specific rules and regulations,and is short of specific rules and regulations to regulate the financial restatement behavior.In this context,based on the research of the influence factors of listed companies,is able to fully understand the influence of different factors on the financial restatement behavior of listed companies,put forward the relevant laws and regulations about how to standardize the behavior of financial restatement,effectively improve the phenomenon of the listed company financial restatement,and thus improve the quality of accounting information,safeguard the rights and interests of stakeholders.On the basis of referencing the existing literature of domestic and foreign,adopts the method of Logistics regression analysis to 2013 and 2016 in stock markets of Shanghai and Shenzhen motherboard financial statements issued a-share listed companies as research samples,collecting and organizing the financial restatement samples by hand,using Excel,SPSS19.0 software for empirical analysis.Through the method of descriptive statistics,correlation analysis,Logistics regression analysis,from the four perspectives of the listed company financial characteristics,equity characteristics,the board of directors characteristics and audit Characteristics,study the main factors affecting the behavior of the listed company financial restatement.The study found that more financial restatements is the high debt levels,poor profitability,big size of the board of directors and the chairman and general manager of the listed company,high ownership concentration and the implementation of salary incentive listed company financial restatement of probability is low,the financial report of audit quality and audit fees has inhibitory effect to the financial restatementbehavior.Research and analysis the reasons for the above phenomenon,according to the results of the study,from the two perspectives of the government and listed companies,put forward the related suggestions to improve the present situation of our capital market financial restatement,improve the quality of accounting information,safeguard the interests of the stakeholders related Suggestions,such as:Improve the system of financial restatement,reducing earnings management motivation of listed companies,optimize the structure of the listed company equity,optimize the structure of the board of directors and strengthen the function of the supervision of the external audit.