Study On Chinese Listed Companies' Mechanism Of Accounting Disclosure

The mechanism for listed companies' accounting disclosure is the fundamental of the stock market. In those mature markets, the information disclosed by companies is the main channel for stakeholders to know the company. Currently China has built up a set of disclosure system. It has taken some effect on the "output" of accounting information, but due to the limited history of china's stock market, this set of mechanism is still imperfect. Those listed companies' frequently-happened misconducts have damaged stakeholders' interest severely. It could be said that the imperfection of mechanism has taken negative effect on the development of China's stock market. Therefore it is necessary to conduct further study on the system of accounting information from institutional perspective. This paper is focused China's mechanism for listed companies' accounting disclosure. It begins with the review of the accounting disclosure history. The first part of this paper is to discuss the accounting disclosure system and its necessity for stock market from economics perspective. The second part of this paper is to introduce China's accounting disclosure system. From the setting and implementing the legal requirement for the disclosure, this paper illustrates the current situation of China's accounting disclosure system. The research in this part is through sample analysis and case studies. The last part of this paper is to provide suggestions for China's accounting disclosure system from both itself and the whole environment.