A Research On Capital Market Supply Of Accounting Information

Since the 1970s, along with the improvement of economic scale and intensified degree, as well as the development of modern computer and network technology, capital market has entered into a stage of rapid development, and simultaneously many problems have exposed. How to maintain the effective operation of the capital market, wins more and more concern of everybody. As a kind of valuable scarce resources in capital market, the transmission and effective operation of accounting information can be one of the basic mechanisms in capital market. However the existing accounting information supply problems, which have greatly damaged the effective operation of capital market, have caused increasing attention among stakeholders, and reforming the current supply mode of accounting information is getting more and more indispensible. In recent years, Accounting circles at home and abroad, have probed into the problems of accounting information supply from different angles, and have obtained some valuable achievements, but still can't meet stakeholders' needs. Therefore, it has become a very urgent issue to find and study accounting information supply problems in the mechanism, to analyze the reasons, to seek a reasonable supply mode, and thus improve the quality of accounting information in the capital market.Based on the study of domestic and foreign literatures, this paper, mainly adopting the methodology of standard research and comparison, starts from the analysis on the defects of the current accounting information supply mode, and ultimately tries to find solutions to accounting information supply problems in the capital market. Taking the information asymmetry theory, the new classical economics theory, the agency theory as the theoretical basis, from the study of accounting information in the capital market and the accounting information main definition of supply of capital market, this paper holds that the accounting information shall be divided into initial processing of accounting information and reprocessing of accounting information, and the existence of listed companies and the corresponding information of two main kinds of intermediary agencies of the accounting information, then demonstrates the features of accounting information quality of capital market, regarding reliability and correlation primary quality features of the accounting information, and also states that the primary quality features of the listed companies shall be reliability and the accounting information of intermediary organizations should take relativity as the primary quality characteristics; Finally this paper discusses how the listed companies offer the reliability of accounting information, and how the intermediary agencies can satisfy the correlation of accounting information. Based on all these analysis, this paper draws a conclusion in the end: as for accounting information supply problems in the capital market, we should give full play to the role of the market, and emphasize that the listed companies' supply of accounting information should take the reliability as its primary quality characteristics, and the intermediary organizations should be correlation. While strengthening our supervision on the accounting information of listed companies, we should vigorously develop the accounting information intermediary organizations, aiming at forming a accounting information supply mechanisms by which the basic reliable information are supplied by listed companies, and the applicative information supplied and processed by the intermediary institutions, which are used to meet the specific needs of information users.