Research On The Influence Of Multiple Major Shareholders On The Comparability Of Accounting Information

The comparability of accounting information is one of the important characteristics of accounting information quality.Theoretically,accounting information can be used to calculate the economic benefits of each company in the industry and clarify the development status of the company in the same industry,but in accounting practice,the calculation method applicable to each enterprise is difficult to determine.This requires accounting practices in the same industry to follow the same accounting standards and policies,and accounting information disclosed by different accounting bodies should be of the same caliber and comparable to each other.An important factor affecting the implementation effect of accounting standards of enterprises is the quality of internal control.Management and controlling shareholders may damage the quality of internal control based on their own interests and reduce the level of corporate governance.Ownership structure is the basis of corporate governance and has an important impact on internal control and accounting information.With the continuous development of mixed ownership economy,the ownership structure of multiple major shareholders is more and more common.On the one hand,multiple major shareholders can play a "supervisory role" on the enterprise,restrain the hollowing out behavior of the controlling shareholder,manipulate earnings,whitewash financial information,improve the quality of internal control,and strengthen the comparability of accounting information.On the other hand,the coexistence of multiple major shareholders will form a "collusion mechanism",major shareholders lack supervision and checks and balances,selective disclosure of accounting information,internal control will produce major disclosure defects,so that the company has more room for earnings manipulation,reduce the comparability of accounting information.Therefore,when there are multiple major shareholders in the enterprise,whether the major shareholders play a supervisory role or collusion effect,and the influence and influence mechanism on the comparability of accounting information are the main issues discussed in this paper.Based on this,this paper selects the A-share listed companies in Shanghai and Shenzhen from 2014 to 2021 as data samples to test the influence of multiple major shareholders on the comparability of accounting information,and analyzes whether the quality of internal control plays an intermediary role between them.In the further analysis,the influence of different degree of product market competition on the relationship between them is tested.Whether analyst concerns play a moderating role between multiple major shareholders and the comparability of accounting information and whether multiple major shareholders can improve corporate performance through the comparability of accounting information.The research shows that:(1)the ownership structure of multiple major shareholders can significantly improve the comparability of corporate accounting information.(2)The ownership structure of multiple major shareholders will significantly improve the quality of the company’s internal control.(3)The higher the quality of internal control,the stronger the comparability of enterprise accounting information.(4)Several major shareholders significantly improve the comparability of accounting information by improving the quality of internal control.(5)The higher the degree of product market competition,the more significant the comparability of accounting information can be improved by multiple major shareholders.(6)Analyst attention plays a regulating role between multiple major shareholders and the comparability of accounting information.When analyst attention is low,multiple major shareholders can better promote the comparability of accounting information of enterprises.(7)Multiple major shareholders can improve enterprise performance through comparability of accounting information.