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The Shareholding Structure Of Empirical Research On The Impact Of The Information Content Of Accounting Earnings

Posted on:2005-07-05Degree:MasterType:Thesis
Country:ChinaCandidate:J L JiaoFull Text:PDF
GTID:2206360152457270Subject:Business management
Abstract/Summary:PDF Full Text Request
Security market is the most important part of market economy. It has been making a lot of contributions to economic development and resource allocation in our country. With the rapid development of the security market, large numbers of problems arise which affect the market function. Among these questions, Whether the accounting earnings have valuable relevance and the listed companies' special ownership structure should be paid special attention to. Different ownership structures result in different corporation governance models, and affect the relevance and reliability of accounting earnings. So, under different ownership structures, the information content of accounting earnings is different.This paper selects a sample of China's listed companies which own A shares. From the ownership concentricity and the ownership composing, I study how the ownership structures influence the information content of accounting earnings and draw such conclusions as follows: (1) Under moderate centralized ownership structure, there is more information content in accounting earnings. (2) Comparing the corporations whose largest shareholder owns shares moderately with those whose largest shareholder owns shares absolutely or insignificantly, I find that the former corporations' information content of accounting earnings are more than the latter's. (3) Comparing with the legal person share and the state share, I find the state legal person share corporations' information content of accounting earnings is more remarkable. In addition, this paper observes from 1999 to 2002 the information content of accounting earnings, and finds that there is a whole elevation because the security supervision section improved their regulation.This paper expects to provide some suggestions for investors on the investment directions, and impel the listed companies to arrange their ownership structure more reasonably and cautiously. By adjusting the ownership structures, the corporations improve the information content of accounting earnings and the corporation governance. The paper also offers some advice for government's supervision sections, and suggests them to constitute effective laws, induct the listed companies ownership structure more properly, develop the ability to boost the information content of accounting earnings and perfect the security market's resource collocation function.
Keywords/Search Tags:Listed companies, ownership structure, accounting earnings, information content, empirical study
PDF Full Text Request
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