Product Market Competition And The Quality Of Accounting Information Disclosure And Enterprise Performance

As the pace of global economic development continues to accelerate,the market competition becomes more intense under the constant impact of the Internet and capital,and enterprises will face more serious challenges.How to improve the competitive advantage of enterprises in the fierce competition environment is the question that every manager thinks.In modern enterprise management,the contradiction between information asymmetry and principal-agent becomes increasingly serious.Therefore,more and more investors are paying attention to the quality of accounting information disclosure.Improving the quality of accounting information disclosure will help investors better understand and evaluate the company's current situation and future development prospects,reduce information asymmetry,and alleviate the contradiction of principal-agent.Product market competition and accounting information disclosure quality are two important factors that affect the performance of enterprises.As the external mechanism of corporate governance,product market competition can promote the development of enterprises and restrain the lazy behavior of managers,which can promote the improvement of enterprise performance.The information disclosure enables investors to better understand the current situation of the company and the future development direction.It is one of the main channels for investors to obtain company information.It is also the main basis for investors to make investment decisions.Therefore,for enterprises,improving the quality of accounting information disclosure can improve the corporate image and reduce the information asymmetry between investors.For investors,it can increase the confidence of investors,thus reducing the expected risks of investors and reducing the capital cost of enterprises,which has a positive impact on the increase of corporate performance.Firstly,This paper analyzes the research background and research significance,research content and framework,as well as the main innovation points.Product market competition,the quality of accounting information disclosure is expounded and the related concepts of enterprise performance,and by means of literature review and summarize the main points and research at home and abroad,analyze the related theories and research,and combining with literature review and theoretical basis is put forward in this paper,the research hypothesis,the last to empirically research hypothesis,the empirical part of the selection of the shenzhen stock exchange between 2012 and 2016 the data sample of listedcompanies as the research object,the quality of accounting information disclosure index selection of shenzhen stock exchange,information disclosure evaluation results to measure of product market competition index selection Hector,index(HHI)to measure the fender,enterprise performance index measured by earnings per share,because of the influence of the quality of accounting information disclosure of enterprise performance has a certain lag,so use the t year information disclosure quality verify its impact on the t+1 year business performance.Through data regression analysis,this paper finds that,firstly,the more competitive the product market,the lower the enterprise performance.Second,the higher the quality of accounting information disclosure,the higher the enterprise performance.Third,based on the sample data is divided into high degree of product market competition,competition and low competitive industry,further studied under the different levels of competition,the enterprise performance and the relationship between the quality of accounting information disclosure.It is found that the relationship between the quality of accounting information disclosure and corporate performance is positively correlated but not significant in the low competitive industry.In the highly competitive industry,the relationship between accounting information disclosure quality and corporate performance is positively correlated.This article try to product market competition and the quality of accounting information disclosure and the business performance of the three variables into a framework,and in this paper,the sample data is divided into highly competitive industry with low competition in the industry,further analysis in the highly competitive industry,low relative to the competition in the industry between the quality of accounting information disclosure and corporate performance is more significant,has certain innovation.It can enrich the relevant literature on the research of enterprise performance in China,and it has some enlightening significance.