Research On Accounting Information Disclosure Regulation From Property Rights' Viewpoint

In essence, market economy is a property rights economy. Regarded as a new viewpoint of research on accounting, property rights theory has not only certain theory meanings but also a positive and deep influence on the development of market economy. The quality of accounting information not only concerns investors' decision directly but also has a great influence on the long-term development of securities market of a country. In our country, however, the distortion of accounting information has been perplexing the people in accounting field at present and the financial fraud scandals have been coming up from time to time throwing securities market into a terrible confusion. To solve this problem fundamentally, it is quite necessary to review accounting information disclosure regulation from property rights' viewpoint.As accounting information has the nature of externality, it is necessary to dispel externality in a way. The process mentioned upside is equivalent to the one to define property rights of accounting information reasonably. On the background of share limited company, when it is invalid, due to trade expenses, to define property rights of accounting information through the ownership of firm, accounting information disclosure regulation becomes an important supplementary method that can define property rights of accounting information. However, accounting information disclosure regulation has appeared to meet the needs of history and its performing costs are very great, so it cannot define all property rights of accounting information and it can only define and protect property rights of common accounting information, leaving some accounting information of which property rights is undefined in "public domain" unavoidably. The regulation of government and the one of market which primly consists of audits of the CPA, are alternative. The regulation of government derives from the evolution of the market mechanism, so only when the regulation of market functions effectively, can the role that the regulation of government plays in the market economy be fully reflected. After government defines property rights of common accounting information, it needs to protect them. It is through both government and...