Research On The Influencing Factors And Suggestions On The Illegal Disclosure Of Accounting Information Of NEEQ Companies

With the opening of the Beijing Stock Exchange,the NEEQ market once again stood on the cusp and became a hot topic in the capital market.In fact,since the establishment of the New Third Board in 2013,it has played an important role in my country’s multi-level capital market.Compared with the main board market,the listing procedure of the NEEQ market is relatively simple,and the requirements for various aspects of enterprises are not as strict as those of the main board.The lower entry threshold makes the NEEQ attach great importance to the quality of information disclosure of enterprises.In 2016,the NEEQ market implemented a tiered system reform,and differentiated the requirements for information disclosure according to different tiers.However,the phenomenon of illegal disclosure on the NEEQ market is still occurring frequently,which shows that there are still many problems in the information disclosure of the NEEQ market that need to be solved urgently.Therefore,it is necessary to clarify the reasons why companies on the NEEQ market frequently disclose accounting information in violation of regulations and how to further improve under the background of continuous reform and development of the NEEQ market,these are topics worthy of analysis and in-depth study.This paper first summarizes and sorts out the current academic research on the information disclosure of the NEEQ market,and proposes a research framework applicable to the factors affecting the accounting information disclosure of NEEQ listed companies based on relevant theories.Then,taking Gongzhun shares punished by the China Securities Regulatory Commission due to the illegal disclosure of accounting information as an example,from the internal and external perspectives of the enterprise,to explore the motives and reasons for its illegal behavior,and to verify the rationality of the research framework;Finally,summarize the research conclusions of the full text and based on China’s national conditions and the current market system and development status of the NEEQ market,targeted countermeasures and suggestions are put forward.This paper found through research that the occurrence of information disclosure violations of NEEQ companies is caused by a combination of factors,in Specific performance of internal and external factors.The main internal factors are that there is no good business model,which makes it unable to resist industry risks and operational risks,the company’s internal governance structure is unreasonable,and the company’s internal control is flawed.The external factors are mainly the lack of punishment by the regulatory authorities,the lack of supervision of the sponsoring securities companies and the lack of independence of the accounting firms.Therefore,in order to regulate the violation of accounting information disclosure by companies of NEEQ,improvements should be made in six aspects: the company’s business model,internal governance,internal control,government supervision,sponsoring securities firms,and accounting firms.