Empirical Study On The Impact Of Accounting Information Quality On Enterprise Technological Innovation Under Financing Path

Mass entrepreneurship and innovation.The state proposes to establish an innovative country.For Chinese enterprises,becoming innovative enterprises has gradually become an irresistible trend in the tide of the times.Technological innovation can not only bring economic vitality to enterprises,but also help them gain competitive advantages.Therefore,technological innovation of enterprises is very crucial for the development of enterprises in China.However,technological innovation can not be separated from the support of funds,and the lack of funds will limit the investment in technological innovation of enterprises.For enterprises,especially small and medium-sized enterprises with weak economic strength,they often face difficulties in internal financing and lack of external credit resources.Therefore,how to ease financing constraints,break financing channels and enable enterprises to obtain more financing is a matter of great concern.Accounting information can reflect the financial and operating conditions of enterprises.The higher the quality of accounting information,the higher the credibility of providing information for external investors.The more effective it is to reduce the risk of information asymmetry to investors,the more it attracts investors' capital investment.Investors' willingness to provide lower-cost and longer-term funds for enterprises with high accounting information quality is also higher.When the financial ecological environment of the area where the enterprises are located is better,usually the level of government governance in the area is higher,the credit system is more perfect,and the financial development system is more mature.Therefore,it can provide good external guarantee for the financing of enterprises,and then the financing of enterprises is relatively smooth.Accordingly,whether high-quality accounting information can improve the level of technological innovation of enterprises by promoting enterprise financing,and whether the quality of accounting information has different effects on technological innovation of enterprises in different financial ecological environment are the core issues of this paper.Firstly,this paper combs the literature at home and abroad,summarizes the current research results and puts forward its own research direction.Then,starting from information asymmetry theory,transaction cost theory and signal transmission theory,this paper makes a theoretical analysis of the impact of accounting information quality on enterprise technological innovation under the financing path,and puts forward five hypotheses.Then,on the basis of theoretical analysis and taking 633 SMEs listed on SMEs from 2012 to 2016 as research samples,this paper empirically examines the intermediary role of financing availability,financing cost and financing duration in the relationship between accounting information quality and technological innovation of enterprises,as well as the regulatory role of financial ecological environment on the relationship between them.The research finds that: the quality of accounting information promotes the technological innovation of enterprises,and improving the quality of accounting information can attract investors' capital investment,obtain longer-term and lower-cost financing,which is conducive to the development of technological innovation of enterprises;a good financial ecological environment has a positive effect on technological innovation of enterprises,and the role of accounting information in a good financial environment will make accounting information.The impact of quality on technological innovation is greatly reduced.Finally,according to the conclusions of the study,relevant policy recommendations are put forward.