Research On Accounting Information Disclosure Of Chinese Concept Stock Beik

In the past two years,in order to reduce the difficulty of listing,achieve rapid financing and expand popularity,more and more Chinese enterprises have gone overseas to list,among which the Chinese concept stocks listed in the United States dominate.After listing in the United States,China Concept shares frequently reported being shorted by short sellers,encountered class action lawsuits and even forced to delist.The reason is that China concept shares have their own operating problems.In order to show good operating performance,China concept shares whitewash the accounting information disclosure of enterprises.Therefore,at the end of 2021,the United States Secuities Regulatory Commission introduced the Foreign Companies Accountability Act(here in after referred to as the Act)in order to strengthen the supervision on the quality of accounting information disclosure of China Concept Stocks.Based on the American requirements on accounting information disclosure of China Concept Stock in the Act,this paper finds out the existing problems in accounting information disclosure of China Concept Stock in order to avoid losing its listing status in the US due to violation of the provisions of the Act.In the research process,this paper uses literature analysis,comparative analysis,and introduction hypothesis,takes efficient market hypothesis theory,information asymmetry theory and principal-agent theory as the theoretical basis,and takes shell as the research object to sort out the information disclosure system of concept stocks listed in the United States and the regulation of information disclosure of China concept stocks by SEC and PCAOB.Then reveals the shell encounters short and is listed in the“pre-delisting” list after the existence of accounting information disclosure problems.Among them,this paper mainly studies the problems of Shell in IPO information disclosure,regular information disclosure and temporary information disclosure.At the same time,from the perspective of shell itself,this paper analyzes the influence of shell’s ownership structure,power distribution and VIE structure on accounting information disclosure.From the external perspective of Shell,this paper analyzes the influence of the declining practice quality of intermediary agencies employed in the United States and the lack of cross-border audit supervision cooperation between China and the United States on the quality of Shell’s accounting information disclosure.Finally,according to the causes of problems in shell’s accounting information disclosure,this paper respectively puts forward suggestions on improving the quality of shell’s information disclosure,and provides valuable suggestions for improving the quality of China Concept Stock’s accounting information disclosure.