Study On The Quality Of Financial Data From Listed Companies In Northwest Manufacturing Industry Based On Benford's Law

The rapid development of the IT industry,the increasingly booming capital market,and the in-depth popularity of mobile internet technology,has greatly increased the speed of information sharing.The competition among enterprises is not only the competition between products,strengths and brands,but financial data information has also become the main means of competition.Financial data is a reflection of the financial situation of the company in the past time period,and is a direct way for the stakeholders and competitors to understand the company's development.At present,the theoretical research system on the quality of financial data is still not perfect.Manufacturing is the cornerstone of regional and even national economic development.The five northwestern provinces are located at the important gate of the ancient Silk Road and are also an important link in the construction of the national “Silk Road Economic Belt”.The development of listed companies in the manufacturing industry has a greater impact on the implementation of policies.The paper takes the listed companies of the northwest manufacturing industry as the research object,and constructs a financial data quality evaluation index system which is suitable for the research object;Introducing Benford's rule and panel model,and testing 15 financial data indicators from 2008 to 2017,and found that there are some abnormalities in the index data such as owner's equity,total operating income,operating income,management expenses,total profit,net profit,etc.It can be seen that the financial data of 2008,2011 and 2015 are abnormal;Through residual analysis,the data anomaly points are mainly concentrated in 2011 to 2015 and 2017,involving 15 listed companies in four provinces,which are Qinghai,Xinjiang,Shaanxi and Gansu.Through the analysis of the reasons for the violations and data anomalies of listed companies,the conclusions put forward corresponding development suggestions from four aspects: improving the financial information disclosure system of the company,optimizing the corporate governance structure,strengthening internal supervision and scientifically reducing costs.