The Economic Analysis On The Accounting Information Disclosure Distortion Of The Listed Companies In China

The information disclosure system of listed companies is the cornerstone on which our securities market can operate and develop effectively. Since the Shanghai and Shenzhen Stock Exchanges were established, China's government has introduced a series of laws and regulations that basically have formed a system of information disclosure dominated by the "Securities Law" and the "Company Law" and supplemented by the relevant administrative regulations, departmental rules, regulations and self-regulatory norms. However, there are several problems such as false, inadequate and not timely accounting information disclosure that not only bring investors huge losses, but also disrupt the normal order of securities market, meanwhile hinder the securities market from fulfilling its functions to allocate the resources. Therefore, it is of important theoretical and practical significance to study the distortion of the accounting information disclosure of our listed companies and to propose appropriate control measures.The dissertation is divided into six parts:The first part is the introduction which includes the background of this study domestically and abroad, research purposes, research significance, domestic and international research status, research methodologies and innovation point.The second part is the analysis of the reality of the accounting information disclosure distortion of the listed companies in China. Starting from the definition of accounting information disclosure, the second part introduces the legal system and the basic content and the form of the accounting information disclosure of the listed companies in China and conducts statistical analysis of non-compliance penalties in China's capital market, and evaluates current state of the accounting information disclosure. The third part analyzes the accounting information disclosure distortion of the listed companies economically in China using the supply and demand theory, internal person control theory, principal-agent theory and game theory respectively.The fourth part is the case study of the accounting information disclosure distortion of the Kelon which introduces the basic situation, the facts of accounting information disclosure distortion and the results of punishments and investigations by the CSRC respectively, and on this basis, analyzes the cause of the accounting information disclosure distortion of Kelon in-depth.The fifth Part is the methods to governance of accounting information disclosure distortion from an economic perspective. Based on the analysis of the problems of accounting information disclosure of the listed companies in China, the dissertation proposes the countermeasures managing accounting information distortion in terms of economics.The sixth part is the conclusions of the dissertation. The end of this dissertation summarizes the research findings, notes the deficiencies of the study, and a vision for future research work.