Study On Accounting Information Disclosure Of Listed Companies In China

Whether the accounting information of listed corporations is properly disclosed will influence the healthy and smooth development. Therefore, the writer carried out researches on the problem of accounting information disclosure of listed corporations with the combination of normative and positive research.This article is based on the line "past-present-future" of accounting information disclosure, consisting of eleven components which are: the historical development of accounting information disclosure, accounting information disclosure and market efficiency, accounting information and its disclosure theory, the analysis of accounting information demanders and suppliers, the reasons of defects in accounting information disclosure of listed corporations in our country and the resolutions, the financial reporting models of listed corporations in China, the accounting information disclosure on internet of our listed corporations, the auditing system of accounting information of our listed corporations, and the references.Preface. This part gives a general introduction to the researching background, researching methods, the characteristics and innovations of this article.The historical development of accounting information disclosure, which concentrates on the advent, developing course, and motive of accounting information disclosure, coming to such conclusions as:A. The accounting information disclosure resulted from the double-entry bookkeeping in the mediaeval Italy. Its development depends on the accounting environment whose changes can create new needs for accounting information. Especially, the presence of corporation accelerates the development of accounting information further.B. The double-entry bookkeeping creates conditions for the advent of accounting information disclosure. The accounting information provided in terms of double-entry bookkeeping, on one hand, owns such attributes as being true and covering a wide range, and on the other hand, is just what the property owners need.C. The development history of accounting information disclosure can be divided into three phases: the first based on ledger disclosure mainly, the second based on financial statements disclosure mainly, the third based on financial reporting mainly. D. The external demanding pressure from investors, creditors, and other information users, the internal supplying force from the corporations and managers, and the compulsory impetus imposed by the supervisory institutes in the security market are all the driving forces behind the accounting information disclosure of listed corporations.Accounting information disclosure and market efficiency. The main contents of this part include: the definition and meaning of market efficiency, the relationship between accounting information disclosure and market efficiency, the research of securities market efficiency in our country. The principal conclusions:A. Market efficiency refers to "market pricing efficiency "not "market operating efficiency". Accounting information disclosure contributes to the improvement of market efficiency, so that much more attention should be paid to accounting information disclosure.B. The stock market in our country still remains in the ineffective phase and has a very long transition course to reach the so-called "weak efficiency" suggested by the western researchers. As for the question of determining the stock market efficiency in our country, we need to combine the methods of normative and positive research to reach conclusions that conform to the reality.Accounting information and its disclosure theory. The main contents of this part include: accounting information and its disclosure theory, and the motive analysis of accounting information disclosure. The principal conclusions:A. Accounting information has experienced such a developing course as free handling at the beginning, then voluntary hiding, and finally public disclosure. Public disclosure usually consists of voluntary disclosure and compulsory one. T...