Study Of The Influence Of Earnings Quality On The Capital Structure Of Listed Corporations In China

Earnings quality is an important research content emerged in empirical accounting research at the end of twentieth century,and the scholars of social academia have paid attention to this research.The studies of earnings quality can be beneficial to the improvement of accounting standards,effectively reduce the possibility of accounting information distortion,improve the quality of earnings,promote the operation of listed companies,and play a positive role for China's capital market development.Most of the listed companies exist surplus manipulation,the mode of operation is incorrect,and is not conducive to the long-term development of the company.In the decision-making process of corporate managers,the high level of earnings quality provides a new way for financing,and is helpful for investors to choose investment projects.The research showed that the companies with stable earnings quality were indispensable to the managers' decision-making,which directly affected the choice of capital structure of listed companies.Therefore,the systematic research of the impact of earnings quality on the capital structure of listed companies in China is of great significance to promote sustainable and stable development of China's financial market.In this study,the related theories of earnings quality and capital structure were elaborated,the data of the 2011-2015 listed companies in China were used the sample by reference to the evaluation of earnings quality standards,and the effects of earnings quality on the capital structure of Chinese listed companies were systematically studied.Based on the research,we put forward some approaches on how to optimize the earnings quality of listed companies in China.The purpose of this study was clarified by background analysis of the relevant research;the research ideas and methods of this paper were established through the analysis and summarization of domestic and foreign scientific research achievements;the related theories of earnings quality and capital structure were expounded on the basis of definiting the definition of earnings quality and capital structure.At the same time,the method of measuring the earnings quality was analyzed and evaluated respectively,and the research hypotheses of the influence path of earnings quality to the capital structure of listed companies in China were put forward.Besides,the author selected the data of listed companies from 2011-2015 as research samples,referred the evaluation standard of earnings quality,and determined the dependent variable and independent variables in the process of research,and constructed multiple regression model for regression analysis.Finally,the author put forward some countermeasures and suggestions to improve the earnings quality and optimize the capital structure of listed companies in China from two angles of micro level and macro level according to the theoretical and empirical analyses.This study laid the theoretical foundation for the follow-up research.