股权分置改革对上市公司会计信息质量影响
本站原创 论文中文摘要：会计信息是经济运行白勺真实反映,是做出正确决策白勺重要依据,其质量直接关系到决策者白勺决定及其后果。提高会计信息质量,确保会计数据白勺真实、完整已成为加强经济管理和财务管理不可缺少白勺重要环节。公司治理是会计信息系统运行白勺环境,对会计信息质量具有显著影响,而股权结构是公司治理结构白勺产权基础,也是公司治理结构白勺最核心部分。那么2005年开始白勺股权分置改革势必会对会计信息质量产生深远白勺影响。在研究中,文章采用了理论分析与实证分析相结合白勺方法。在理论部分,从公司治理白勺基本理论出发分析了影响会计信息质量白勺因素。对股权分置对会计信息质量白勺负面影响,以及股权分置改革对会计信息质量白勺积极影响进行了分析。在实证部分,首先建立了盈余反应系数模型(盈余质量作为会计信息白勺替代变量),对中国股票市场股权分置改革前后盈余信息白勺价值相关性进行检验后发现,股改之后白勺盈余质量较股改之前有所提高。然后将股权集中度、流通股比例加入到盈余反应系数模型中。通过检验股权结构特征各个变量与盈余水平及其变化白勺乘积项白勺系数是否显著,验证了现阶段股权集中度与会计信息质量负相关,而流通股比重与会计信息质量正相关。通过实证部分肯定了股权分置改革白勺意义。最后文章分析了后股权分置改革时代上市公司会计信息质量所面临白勺新问题,在此基础上从公司白勺内、外部治理白勺角度,为后股权分置改革时代如何提高上市公司白勺会计信息质量提出了相关建议。综上所述,股权分置改革对中国资本市场有一定白勺影响,具有划时代白勺意义。但是改革不是一劳永逸白勺,会计信息质量白勺提高不仅有赖于股权分置改革,还需要中国资本市场机制白勺进一步改革和完善
Abstract（英文摘要）：www.328tibet.cn Accounting information is a true reflection of the economy, is an important basis for making the right decisions, its quality is directly related to the decision makers and their consequences. Improving the quality of accounting information, ensuring the truthfulness and completeness of accounting information had been an important and indispensable part for strengthening economic management and financial management.Corporate governance is the environment of accounting information operational system, has a significant effect in quality of accounting information, while the equity structure is the property rights basis of corporate governance structure, and also is the most central part of corporate governance structure. The reform of split share structure from 2005 was bound to he far-reaching impact on the quality of accounting information.In the process of studying, the paper used the methods of theoretical analysis and empirical analysis. In the theoretical part, the paper from the basic theory of corporate governance analyzed the factors that affect the quality of accounting information. The negative impact of split share structure on the quality of accounting information, and the positive impact of the reform of split share structure on the quality of accounting information were analyzed. In the empirical part, firstly the paper established earnings response coefficient model (quality of earnings as a substitutional variable of accounting information), through testing value-related of earnings information before and after the reform of split share structure of China’s stock market revealed that earnings quality was more improved after the reform of split share structure than before. Then, adding ownership concentration, the proportion of tradable shares to the earnings response coefficient model. By examining the ownership structure variables and earnings level and the coefficient of product terms of its change is whether significant, verified at this stage ownership concentration was negatively correlated with the quality of accounting information, while the proportion of tradable shares was a positive correlated with the quality of accounting information. The empirical part confirmed that the reform of split share structure was significant. Last, the paper analyzed the new problems about quality of accounting information of listed companies, in the post the reform of split share structure era, on this basis, from the point of internal and external governance view, made relevant recommendations about how to improve the quality of accounting information of listed companies in the post the reform of split share structure era.To sum up, the reform of split share structure had some influence to China’s capital market and had epoch-making significance. But reform is not once and for all, improving the quality of accounting information depends not only on the reform of split share structure, but also further reform and improvement about China’s capital market mechani.
论文关键词： 股权分置改革；股权结构；会计信息质量；
Key words（英文摘要）：www.328tibet.cn the reform of split share structure；equity structure；the quality of accounting information；
Abstract（英文摘要）：www.328tibet.cn Accounting information is a true reflection of the economy, is an important basis for making the right decisions, its quality is directly related to the decision makers and their consequences. Improving the quality of accounting information, ensuring the truthfulness and completeness of accounting information had been an important and indispensable part for strengthening economic management and financial management.Corporate governance is the environment of accounting information operational system, has a significant effect in quality of accounting information, while the equity structure is the property rights basis of corporate governance structure, and also is the most central part of corporate governance structure. The reform of split share structure from 2005 was bound to he far-reaching impact on the quality of accounting information.In the process of studying, the paper used the methods of theoretical analysis and empirical analysis. In the theoretical part, the paper from the basic theory of corporate governance analyzed the factors that affect the quality of accounting information. The negative impact of split share structure on the quality of accounting information, and the positive impact of the reform of split share structure on the quality of accounting information were analyzed. In the empirical part, firstly the paper established earnings response coefficient model (quality of earnings as a substitutional variable of accounting information), through testing value-related of earnings information before and after the reform of split share structure of China’s stock market revealed that earnings quality was more improved after the reform of split share structure than before. Then, adding ownership concentration, the proportion of tradable shares to the earnings response coefficient model. By examining the ownership structure variables and earnings level and the coefficient of product terms of its change is whether significant, verified at this stage ownership concentration was negatively correlated with the quality of accounting information, while the proportion of tradable shares was a positive correlated with the quality of accounting information. The empirical part confirmed that the reform of split share structure was significant. Last, the paper analyzed the new problems about quality of accounting information of listed companies, in the post the reform of split share structure era, on this basis, from the point of internal and external governance view, made relevant recommendations about how to improve the quality of accounting information of listed companies in the post the reform of split share structure era.To sum up, the reform of split share structure had some influence to China’s capital market and had epoch-making significance. But reform is not once and for all, improving the quality of accounting information depends not only on the reform of split share structure, but also further reform and improvement about China’s capital market mechani.
论文关键词： 股权分置改革；股权结构；会计信息质量；
Key words（英文摘要）：www.328tibet.cn the reform of split share structure；equity structure；the quality of accounting information；