The Case Analysis Of False Statement Of Baoli International Voluntary Accounting Information

The quality of voluntary information disclosure is inextricably linked to the operation of the securities market.The high level of voluntary information disclosure level can allow the securities market to operate steadily,reduce unnecessary costs and make information transparent to investors.To achieve a win-win situation is the basis for consolidating the steady and rapid development of the capital market.The false statement of voluntary accounting information has always been the focus of attention of investors.The resulting harm will cause losses to both investors and the capital market,which will greatly reduce the efficiency of resource allocation in the capital market and affect the normal operation of the securities market.Stakeholders in the market have brought about extremely bad influences,and investors' investment enthusiasm and confidence have declined.Use professional knowledge to deeply analyze the deep motives and economic impact of voluntary accounting information false statement behaviors,and delve into specific feasible and targeted solutions.At present,many scholars have studied the harm and adverse effects of voluntary false statements,and the losses borne by the violators are also more clear.However,what kind of economic consequences does the voluntary misrepresentation of information bring to the offending subject,and whether or not the offending subject is afraid to commit it again,we do not seem to be very clear about these.Poly International is the first company to be punished by the China Securities Regulatory Commission for violations of voluntary information disclosure.Therefore,this article selects Baoli International's voluntary accounting information false statement cases,uses case analysis and other methods to explore the causes and economic consequences of voluntary information false statements,and draws conclusions and some enlightenment from them,which has important research and practical significance.First,after summarizing relevant domestic and foreign voluntary information disclosure literatures,the article puts forward the definition of voluntary information disclosure,and summarizes the motivations,influencing factors,and economic consequences of voluntary information disclosure.The motivations for voluntary information disclosure include reducing capital costs,raising funds,reducing litigation costs,and reducing agency issues.The influencing factors of voluntary information disclosure mainly include the size and profitability of the company,the region and nature of the company,the level of corporate governance,and high-level background.The economic consequences of voluntary information disclosure are mainly the impact on the company's stock price and equity capital.It also introduces the types of information disclosure,including mandatory information disclosure and voluntary information disclosure,the motivations and manifestations of false statements of voluntary information.The motivations of false statements of voluntary information mainly include the motivation of capital market transactions,insider manipulation such as insider manipulation of stock prices,and major shareholders hollowing out listed companies.The main manifestations of false statements of voluntary information include false records,major omissions,misleading statements,and improper disclosure.In addition,the article incorporated the theory into actual cases by analyzing the principal-agent theory,excess income disclosure theory,and information asymmetry theory,laying a theoretical foundation for the case analysis of false statements of voluntary accounting information.Secondly,the article mainly takes the case of false statement of Baoli International Voluntary Accounting Information as an example,and conducts an in-depth analysis of the reasons and economic consequences of the case.This article first introduces the basic situation of Baoli International,and then further explains the case of Baoli International Voluntary Information False Statement from the two aspects of Baoli International Voluntary Accounting Information False Statement and Factual Identification.Baoli International mainly has the following illegal facts:First,it has not truthfully disclosed the changes in the information on the establishment of Baoli Russia International Investment;Second,it has not disclosed the progress of the "Memorandum of Cooperation" signed with the Ministry of Development of the Russian Federation Far East.Changes in the situation;Third,there are violations of information disclosure laws and regulations in the Self-Examination and Correction Announcement;and fourth there have been major changes such as the progress of the Memorandum of Intent signed with Belarus State Petrochemical Company.Then,the article specifically analyzes the causes of false statements of Baoli International Voluntary Accounting Information.Internal reasons include interest-driven,lack of effective management of subsidiaries,deteriorating financial status of the company,and imperfect internal governance structure;external causes are mainly the absence of external information demand subjects and the imperfect voluntary information disclosure system.Among them,when analyzing internal reasons,some financial indicators were selected for specific analysis,and the company's governance structure was also explored in depth.Based on the analysis of the reasons,it also has three consequences : operating consequences,management changes,and market consequences.The in-depth discussion of the economic consequences of false statements of voluntary accounting information.Finally,the article concludes the relevant conclusions based on a concrete analysis of the case of false statements of Baoli International's voluntary accounting information.First,the weak and highly competitive industry environment and the deterioration of financial conditions have induced false statements of voluntary information.Second,the failure of internal control and the driving of benefits are the main reasons for false statements of voluntary accounting information.Third,the corporate governance structure.Imperfections cause the interests of small and medium shareholders to be impaired;Fourthly,the supervision of voluntary information disclosure is inadequate to condone the misrepresentation of voluntary information;fifthly,the untimely external supervision and low penalties result in low costs of misrepresentation of voluntary information.In addition to the analysis and discussion of these conclusions,the article has obtained relevant enlightenments accordingly.One is to improve the internal control environment and strengthen communication and management of subsidiaries;the second is to incorporate executive professional ethics into the construction of corporate culture;the third is to establish a violation prevention and control system and independent directors' information disclosure channels;the fourth is to increase Greatly involve the cost involved in the case of various stakeholders;Fifth,improve the supervision of information disclosure and encourage voluntary information disclosure.