The Research On Investor Oriented Accounting Information Disclosure

Investors are the center of the security market, and the mainly demander of the accounting information. Accounting information disclosure system aim at protect the rights and interests of investors. But in fact, investors often are cheated or misguided by deceitful information. The lack of the investors'right protection mechanism and the faultiness of the information disclosure system are closely bound up. So, I choose Investor Oriented to study the problem of accounting information disclosure of the listed company.Based on the study of accounting information disclosure system at home and abroad, I adopt criterion research method together with case study to bring out the frame of investor oriented accounting information disclosure (IOAID) system. Under IOAID system, the rights of the investors can be better protected and respected. I am sure that the investors will have more passion to take part in the management of the listed company. Accordingly, the value and fundamental goal of the information disclosure system, that is to protect the rights of the investors, can be realized. Along with IOAID system's being put into practice, the investors and the companies will be well interactive. Additionally, with moderate supervision from government and positive participation from the intermediate agency, I'm sure IOAID system will promote China's market mechanism and improve the efficiency of China's capital market.There are four chapters in this paper. In chapter 1, firstly, I review the relative researches connected with investor protection and information disclosure, and sum up four meaningful questions. Then, I bring forward"Investor Oriented"to make up information disclosure system. In chapter 2, IOAID system sets up its academic basis on the"Efficient Capital Market Hypothesis"at first. Then, along with the development of China's security market and the maturity of the investors, IOAID system gradually has its market basis. At last, this chapter analyses the relationship of Investor Oriented and Accounting Information Disclosure. Chapter 3 is the most importance in the paper. Use Lincoln's classic democracy as reference to explain the Investor Oriented, that is, in order to prevent investors form being misguided,navigated or cheated, we need to construct an investor oriented system which respects investors'rights, is managed with investors, serves for the investors so as to realize investors'interests. Then, this chapter puts this new idea into the investor oriented accounting information disclosure system (IOAID). Chapter 4 discusses the role and function of all the participators in the security market, to answer those four questions form chapter 1.This paper tries to carry out characteristic and innovation in the follow three aspects:First, choose"Investor Oriented"as angle of view to unscramble problems of the listed company accounting information disclosure in China. Try to make up an information disclosure system in which all the participators harmoniously coexist.Second, use Lincoln's democratic view as reference to explain"the investor oriented"concept.Third, fulfill the construction of the frame of investor oriented accounting information disclosure (IOAID) system; make sure the characteristic of the system, that is,"rights of the investors, managed by the investors, interests for the investors"; expatiate on the frame of IOAID system from subject, content, format, time and channel.Forth, discuss the role of all the participators in IOAID system, analyzed the new relationship and effect among four participators, offer some practical proposals for the new system.