Positive Research On The Relationship Between Ownership Structure And The Quality Of Accounting Information

At the beginning of 21st century, a great many malignant accounting scandals have been disclosed in both domestic and aboard capital market, which seriously impaired the confidence of investors. Different countries all constitute principles trying to ensure and improve quality of accounting information. In theory, corporate governance and accounting information institution are designed to alleviate agency problems, and there exists inherent and necessary relationship between corporate governance and quality of accounting information. And the ownership structure is the foundation of property right, the most crucial part of company's corporate governance .Based on practice of Chinese capital market, the thesis aims at exploring and studying the correlation between ownership structure and financial reporting quality ,to provide support for policy establishment for optimizing ownership structure and improving financial reporting quality .Firstly, this thesis summarizes the methods and conclusions on the positive studies of ownership structure and quality of accounting information based on studying lots of domestic and aboard literature. Dissertates the fundamental theory of governance management and quality of accounting information. Analyzes the conditions of current ownership structure and quality of accounting information about Chinese listed companies. The ownership of government shares in Chinese listed companies is inefficient, which results in the inside control, the country as the proprietor can not effectively supervise the listed companies. The existence of a large number of untradable stocks has caused the absence of demanders of accounting information. The limitation of ownership structure provide circumstance to inveracious accounting information. Secondly, the thesis puts forward hypothesis according to the theory analysis and constructs relevant models. Then research the correlation between ownership structure and financial reporting quality of Chinese listed companies, with adopting A-share of Shanghai market in 2005 as a research sample . The thesis draw some conclusions: the percentage of government shares, the ratio between the largest and secondary shareholder are positively related to earning management; while the percentage of legal person shares is negatively related to the earning management, and there is no evidence show the percentage of tradable shares and the convergence of ownership can effect earning management.In the end, the thesis puts forward some advices according to the theory analysis and empirical evidence above, which is significative to improve the reforms of ownership structure and the quality of accounting information for Chinese listed companies.