The Reliability Of Accounting Information And The Balance Of Stakeholders' Rights

The reliability of accounting information is one of the core concerned problems of accounting academic circles and the enterprise management. Meanwhile, the balance of stakeholders' rights is one of the important contents of the stakeholder theory and the strategic management related to stakeholders. This dissertation originally studies the relationship between the above two aspects.To begin with, this dissertation introduces the modern contractual theory and the modern theory of property rights both belonged to modern enterprise theory. After analyzing and comparing the priority theory of the material capital owner and the stakeholder theory, I found the latter has the advantage over the former both in the power of theory and the guidance to enterprise management. So, this dissertation takes the stakeholder theory as its foundation, and takes advantage of modern contractual view and modern view of property rights to analyze the relationship between the reliability of accounting information and the balance of stakeholders' rights. As a consequence, I found the interaction of the two above aspects. They influence mutually. That is to say, the reliability degree of accounting information is more high, the balance degree of stakeholders' rights more high; On the contrary, the balance degree of stakeholders' rights is more high, the reliability degree of accounting information more high.After the above theoretical analysis, I take earnings management which is manipulated by managers in listed companies to escape regulations instituted by China Securities Regulatory Commission (CSRC), as the opposite-proxy of the reliability of accounting information, and construct a reliability index of accounting information (RIAI) which measures the degree of the reliability of accounting information; Then, drawing lessons from the concept and essential thoughts of entropy in physics, I construct an entropy of rights (ER) which measures the balance degree of stakeholders' rights based on the claims of stakeholders. Immediately after, this dissertation takes RIAI and ER as endogenous variables, and sets up a simultaneous equations model (SEM). Based on this model, this dissertation makes use of the data of Chinese listed companies, and examines hypotheses which are put forward in the above analysis.The results of this research enriched contents of the stakeholder theory. Also, it extends our horizons of the reliability of accounting information. Moreover, the conclusion of this dissertation is beneficial to the stakeholders' game of making use of accounting information and managers' strategic management.