A Study On The Influence Of Ultimate Ownership Structure On Financial Recapitation Under The Regulation Of Media Environment

The financial report of the listed company is the key carrier of the transfer of accounting information,and the quality of the accounting information carried by it will directly affect the correctness of the investors' decision.However,through the statistical analysis of the financial recounting characteristics of listed companies in recent years,it is found that the proportion of financial restatement has been alleviated in the past,but it has not been restrained steadily.In recent years,there is still an upward trend.Of the broader scope of the industry,due to the existence of annual accounting errors or major omission caused by the restatement and the core financial indicators related to the proportion of restatement are relatively high,which are reflected in China's listed companies financial restatement phenomenon is not optimistic about the fact,But also reflects the need for a deeper level of financial reconsidering mechanism.In this paper,the study of the financial restatement mechanism is extended to the ultimate ownership structure,and the media environment is introduced into the study of the relationship between the ultimate ownership structure and the financial restatement.The A-share listed companies listed in Shenzhen and Shanghai in 2013 and 2015 In order to study the samples,Logistic regression method was used to test the effect of the ultimate ownership structure on the financial restatement.The analytic effect of the media environment on the relationship between the ultimate ownership structure and the financial restatement was tested by using the regression analysis method.Through the empirical study,it is found that the lower the proportion of the cash flow rights owned by the ultimate controlling shareholder or the higher proportion of the control,the greater the possibility of the financial restatement;the greater the separation of the ultimate controlling shareholder,the possibility of the financial restatement of the listed company The greater the degree of the ultimate;the ultimate controlling shareholder for the state-owned property listed companies financial recapitability is significantly lower than the non-state property;the media environment can reverse the adjustment of the ultimate control,the separation of power and financial restatement,but the ultimate The adjustment effect of the relationship between the cash flow,the ultimate controlling shareholder and the financial restatement is not significant.Finally,this paper puts forward some suggestions to improve the financial restatement of listed companies in China according to the research results.