Analysis On The Influence On Quality Of Accounting Information Disclosure From Corporate Governance Structure Of China's Listed Companies

With the acceleration of economic globalization and the rapid increasing number of multinational corporations, corporate governance has drawn increasing attention. Accounting information is a focus of concern as well after the series of financial scandal such as Enron Corporation. With the continual emergence of cases of financial scandals, international experts start thinking about researching the association between the two focus issues by combining corporate governance and quality of accounting information disclosure together. Corporate governance structure is a series of institutional arrangements which the owner of the company's uses on the management, operations, performance monitoring and control of the corporate. Accounting acts as an important role of information providers and supervision and management in such an arrangements of system, and accounting is an important tool for the owner of the operators to carry out monitoring and incentives. The relationship between accounting and corporate governance is like the relationship between the system and the environment surrounding the system. Corporate governance structure is an entire environment, and accounting is a subsystem of the entire environment. Coordination between the environment and the system will facilitate the speed of reaching the target. On the one hand, corporate governance structure impacts on quality of accounting information that provided from accounting information systems in many respects, reasonable corporate governance structure is the foundation stone for accounting information system of providing high-quality accounting information. On the other hand, the accounting information system also impacts on the corporate governance structure at a certain extent, high-quality accounting information enables all stakeholders to act more effective supervision and control on the company's operations, high-quality accounting information is the premise which makes corporate governance structure working more effectively.In recent years, the quality of accounting information provided by China's listed companies is always at a low level, there were always misleading, false and material omissions of the accounting information, the frequent appearance of fraud action on accounting information disclosure seriously went against the basic principles of open, impartial and justice and the basic principle of honesty and credibility. Those fraud actions seriously damaged the equity of investors in general stock market, and also seriously disturbed the normal operation of China's securities market. Therefore, studying on the relationship between listed company's corporate governance structure and quality accounting information disclosure of these companies has a realistic significance for improving the corporate governance structure of listed companies, the effectiveness of the disclosure of accounting information and the promotion of sustainable and healthy development of China's securities market. And the study also has a realistic significance for protecting the legitimate equity of investors in general ultimately.This paper discriminates and defines the conception of corporate governance structure, accounting information and the quality of accounting information disclosure based on domestic and foreign scholars' research results by using normative research methods. And this paper present the theory of manager control, the theory of control of the controlling shareholder and the theory of influence from the characteristic of director board based on the relationship between corporate governance structure and quality of accounting information disclosure from the standpoint of theory of control. This paper classifies corporate governance structure into internal corporate governance structure and external governance structure from the standpoint of broad definition of corporate governance structure by using the current general classification method. And this paper analysis present problems of our corporate governance structure of our listed companies from the standpoints of internal corporate governance structure and external governance structure. And then this paper gives a further analysis of the influence which those problems bring on quality of accounting information disclosure of China's listed companies. And then point out that China is still in the transition economy period, the stock market started later than some other countries and development of the stock market is not mature, and the market is still in weak-form efficiency stage. This paper also points out realistic problems that ownership structure of China's listed companies is not reasonable, and the framework of supervision is not robust. And then this paper puts forward the reasons for the low quality of accounting information disclosure of China's listed companies, including the slow development of the market for corporate control, the scantiness of mechanism of competition of manager market, the independent of the external auditors, the unreasonable ownership structure of listed companies, the low level of authority of director board and supervisory board, the distemperedness of laws and regulations and the low level of the external supervision power. And the main reason is that most listed companies are reformed from state-owned enterprises (SOE), the corporate governance structure of those companies is not perfect, and the power of supervision is too low. This article commence on the current four models of corporate governance around the world, and choose the typical countries, analyzes that how the corporate governance structure acts on the quality of accounting information disclosure form the angles of history, laws and culture, and analyzes the reference significance to our listed companies.At last, as to the problem that how to improve the quality of accounting information disclosure of listed companies from the standpoint of corporate governance structure and how to improve the result of listed company's accounting information disclosure, this paper still analyzes the countermeasure and the suggestion for improving the quality of accounting information disclosure of listed companies from the. two standpoints of internal governance structure and external governance structure, including improving external market mechanisms, improving the external supervision, strengthen the supervisory functions of director board and supervisory board, introducing independent directors,to give the expectation of help of improving quality of accounting information disclosure of China's listed companies Information.