Stakeholders' Collective Choice And Accounting Supervision

Accounting supervision is one of the impornt questions in accounting research, scholars from different nations have pay close attention to this question from long ago.Although researchers have got some conclusions, but these do not offer essencial help to the solution of accounting supervision problem.Retrospect the research in the past,there are two impornt points need scholars pay attrntion ,which are the key points in solution of accounting supervision problem.One is that the main current research is not based on Stakeholders Theory,they did not analyze questions from the relationship of stakeholders'benefits and accounting information.The other is that researchers pursuit a unified accounting supervision mechanism which they think suit every enterprise,but this is impossible because each enterprise has it's own characterist.This thesis is based on the two recognition above, combine Stakeholders Theory and Collective Choice Theory to analyze accounting supervision problem . The thesis study the groundwork of"Classified Governance"fistly,then establish specific accounting supervision mechanism,and all this is in order to offer help to the solution of accounting supervision problem. .The thesis begin with the analysis of ownership arrangement of enterprises,hold the point of that ownership arrangement is the result of two stakeholders'collective choice .Fistly, all the stakeholders contribute to the residual earnings,they all have the right to share the residual earnings. The stakeholders make the choice of the shared proportion of residual claimancy with each other, and the proportion a stakeholder could get depends on both his comparative influence and the collective choice mechanism.Secondly, the person who averses risk in order to aviod the uncertainty brought by the residual earnings sell their residual claimancy.The stakeholders bargain with each other , and the final price depends on the stakeholders'ability of negotiation which is mostly affected by the ability of risk sufferance. The structure of ownership arrangement is the result of the free transfer of ownership among the stakeholders.And the process of stakeholders'collective choice about enterprise ownership arrangement is also the process of optimizing the enterprise's risk arrangement.The ownership arrangement make the stakeholders of a enterprise divided into two sorts:the owner and the fixed income contractor.The individual targets of these two kind stakeholders are realized by the management of the enterprise,but they are placed in different levels, because the owner and the fixed income contractor have different contractors with the enterprise.But the target of the enterprise is determinated by the targets of the owners only,the behavior of the enterprise is served for the target of the owners.Therefor, the borderline of the enterprise and market can bu settled.The owners of the enterprise are the internal stakeholders of the enterprise,they settle the domain of the enterprise,the fixed income contractors are exterior stakeholders of the enterprise.Corporate Governance is an institutional arrangement which deal with the power, responsibility and benefit relationship between internal stakeholders,so the difference of the internal stakeholders'construction directly leads the mode of Governance different .Classify enterprises by the difference of the internal stakeholders'construction,then carry out"Classified Governance"is the exit of Corporate Governance reformation.Accounting supervision system is constituted by three parts,they are: accounting supervision from managers which is in order to administrate the enterprise, accounting supervision from internal stakeholders which is in order to govern corporates and accounting supervision from the people outside the enterprise,the later two part construct the stakeholders'accounting supervision.The accounting supervision from internal stakeholders is the key part of the accounting supervision system,the establishment of this accounting supervision mechanism must be different between different enterprise types.The accounting supervision mechanism of enterprise which governance is lead by one sort of stakeholders must pay attention to the function of the board of supervisors and the exterior accounting supervision. The accounting supervision mechanism of enterprise which governance is shared by two or more sorts of stakeholders must pay attention to the balance of internal stakerholders.And The most important problem of enterprise which governance is shared by all stakeholders is how to impove the decision-making efficiency.The internal stakeholders do not supervise the accounting imformation of the enterprise by thenselves directly,they set up some vicegerent institution to supervise the enterprise.So the control of the process of vicegerent institution representors election and the control of the process of vicegerent institution decision is very important,this determine the successful of the vicegerent machanism.The two processes are processes of vote election,the new research result of vote approachs have their applied value in this point.Different accounting supervision mechanism must choose different vote approachs.