Research On The Illegal Disclosure And Governance Of ST Bailong's Accounting Informatio

The Chinese economy has moved from a stage of rapid growth to a stage of highquality development.China’s capital market is also gradually expanding.Listed companies are the main force to promote high-quality economic development.Improving the quality of listed companies is an important measure to further improve the capital market environment,and cracking down on the illegal disclosure of accounting information of listed companies is an important way to improve the quality of listed companies.The official implementation of the new Securities Law on March1,2020 and the Administrative Measures on Information Disclosure of Listed Companies on May 1,2021 will have positive significance for standardizing the information disclosure behavior of listed companies and safeguarding the legitimate interests of investors.This paper uses the literature research method to sort out the relevant literature,on the basis of the existing data,with the risk factor theory as the entry point,to ST Bolong accounting information disclosure incident as an example,respectively from the moral quality,motivation,opportunity,the possibility of discovery,the degree of punishment faced by the five factors to completely analyze the driving factors behind the information disclosure violation.Use the comparative analysis method to further analyze the impact of information violation disclosure on the financial indicators of ST Bolong and use the event study method to explore the negative consequences of information violation disclosure caused by ST Bolong stock price collapse,on the basis of the risk factor theory for ST Bolong accounting information violation disclosure proposed governance suggestions.It will not only enrich the research database of accounting information disclosure violations,but also alert companies and individuals who attempt to disclose accounting information violations,and create a fair and orderly market competition environment.Therefore,it is of far-reaching significance to study the illegal disclosure and governance of accounting information of ST Bolong to curb the phenomenon of illegal disclosure of accounting information and standardize the benign development of the capital market.