Chinese Traditional Culture，institutional Environment And The Implementation Effect Of Accounting Standards

Nowadays,the international convergence of accounting standards has become an inevitable trend in the increasingly frequent global economic exchanges.Countries around the world spend a lot of resources to constantly formulate and revise accounting standards,and try to establish a unified accounting standards system,but financial fraud events still emerge in endlessly,financial fraud events make people overwhelmed.Historical experience shows that it is far from enough to rely on the establishment of rules to restrain the accounting behavior of enterprises,and it is also necessary to ensure the effective implementation of rules,that is to say,the substantially follow accounting standards.As time goes by,people are more and more eager to obtain high-quality accounting information,so pay more and more attention to the implementation effect of accounting standards.So,how to strengthen the implementation of accounting standards and improve the quality of accounting information has become an important subject that needs to lucubrate.As an important part of the informal institution,Chinese traditional culture plays the most lasting and universal role in the process of influencing human behavior.Religious culture advocates Six Harmonies and Confucian culture advocates Benevolence,Righteousness,Politeness,Intelligence and Trust,the essence of traditional culture thought can subtly influence the moral and ethical behavior of people,contribute to ease the agency conflict and improve the information environment.Traditional culture plays a positive role in perfecting social contract and restraining the behavior of listed companies.Therefore,traditional culture can affect the implementation effect of accounting standards of enterprises,which is the beneficial supplement to the formal institution.On this basis,this paper focuses on exploring the relationship between Chinese traditional culture and institutional environment on the implementation effect of accounting standards,as well as the intermediary role of managerial overconfidence.Through literature review and analysis,this paper starts from the principal-agent theory,Hofstede-Gray accounting subculture theory and institutional theory,and combines with practical analysis to conclude that the traditional culture and institutional environment in the external environment will have an impact on the implementation of accounting standards.Then,using the panel data of Chinese A-share listed companies from 2008 to 2017,we empirically test the influence of traditional culture and institutional environment on the implementation effect of accounting standards and the mediating role of managerial overconfidence.Results show that the stronger of the traditional cultural atmosphere and the more perfect of institutional environment in the location of the listed company,the better of the accounting standards implementation effect,and traditional culture and institutional environment could interact each other complementary to improve the implementation effect of accounting standards.At the same time managerial overconfidence plays an intermediary role between traditional culture and the accounting standards implementation effect.Research results prove the importance of the traditional culture,suggest that traditional culture is the important influence factor and beneficial supplement of institution environment,can improve the accounting standards implementation effect by inhibiting the managerial overconfidence.This paper provides a reference for the practice of the accounting standards.Based on the above research,this paper puts forward the following suggestions :(1)Implementation effect of accounting standards needs to be supported and guaranteed by traditional culture.(2)Vigorously promote regional institution construction and do a good job in external supervision.(3)The enterprise should strengthen the traditional culture learning and pay attention to the overconfidence tendency of the management.