The Public Company Accounting Information Disclosure Distortion Problem

The stock market is playing such an important role in modern economy that its development level has become an essential criterion of the perfection of a nation's market economy and its economic development level. In the past decade, our country's stock market has made great contributions to collecting funds, optimizing resource allocation, adjusting economic structure, shifting enterprise mechanism and promoting economic development. However, since our stock market is still at early stage, many problems rise to the surface with its development. One of the most serious problem is the distortion of the accounting information disclosure, which lessens the resource allocation efficiency, damages the investors' interests, and disturbs the order and stable development of our stock market. Therefore, it is in an urgent need to solve this problem.Based upon the above understanding, this thesis first makes a general introduction to this problem. Then, using the collected data, it further analyses the existing phenomena and their causes by adopting qualitative analysis and giving examples. Finally, it offers measures and suggestions for solving this problem.This thesis consists of the following five parts:The first part gives a definition accounting of information disclosure, its standards and function, analyses the relationship between market efficiency and the system of accounting information disclosure, and makes a retrospect and summary of its history and the current operating system.In the second part, it first defines what the distortion of accounting information disclosure means. Then it states its existing forms in the current stock market. This part also shows the negative effect it brings about.The third part is a survey conducted to gain information of how well the small and medium investors know the stock market for this thesis is written in their viewpoint.The fourth part, after making a deep analysis about it economically, points out that the major cause of this problem is the distorted behaviours of securities regulatory commission, senior management of listed companies and accounting firms.Based upon the analysis made in the previous parts, the last parts puts forward measures and suggestions at macro- and micro- level for administrating the distortion of accounting information disclosure.