A Study On The Accounting Information Announcement System Of China Listed Company

This article attempted to study and analyze the problems of informationannouncement in listed companies of China. Drawing lessons from foreigncountries, some management countermeasures were offered as solutions to theseproblems. The article can be divided into five parts:The first part defined the information announcement system of listedcompanies. Firstly the definition of the system was presented, then that ofthe system of information announcement for listed companies, in which theessential elements of the system and their functions were put forward. Finallythe article introduced briefly the significance of the research on theinformation announcement system of listed companies in our country.The second part dealt with the existing problems of informationannouncement in listed companies. With more than ten years' development,Chinese stock market has achieved certain success. But inevitably it is stillnot as matured and normal as expected. There are still many problems especiallyin the field of the accounting information announcement.The second part dealt with the theoretical analysis of the listed companyinformation announcement. This part started with the common phenomenon ofasymmetry information in the stock market; stated the importance of informationannouncement of the stock market; and emphasized the importance through ananalysis of the effective market theory, the entrusted agent theory and theimpression management theory.The third part served as a comparison and an analysis of the informationannouncement system in listed companies of China. Firstly, this part introducedthe basic frame of Chinese information announcement system of listed companies.Secondly, the present information announcement system was compared with theformer one through which we can see obvious development. Finally, in order toget some enlightenment, the article introduced the present frame of the information announcement system of the United States, focusing on the Sarbanes-Oxley Act of 2002.The fourth part dealt with the reasons of the existing problems. From thepoints of the company management structure, the effective encouraging andbinding mechanism for manager market and managers, the supervisory system andthe audit system for registered accountants, the problems in the informationannouncement were revealed.The fifth part looked into the countermeasures to these problems. In viewof the analysis of the reasons in the fourth part, some countermeasures wereput forward from the point of improving the management structure of the listedcompanies and enforcing an effective supervisory system. A better informationannouncement system of China can be achieved by learning from the experienceof advanced foreign countries and at the same time putting the actual conditionsof China into consideration.