Research On The Risk Of Using Accounting Information

Although users of accounting information, including the government, social organizations, institutional investors, etc.This paper mainly studies is mid-small investors with the risk of using accounting information in the capital market. The use of accounting information, directly affects the value judgment, and accounting information is affecting the investors to make the investment decisions. Because the system of accounting information may be due to the unreasonable itself, disclosure of accounting information may be not true intentionally,delay disclose the accounting information, Leading investors when using accounting information in the accounting information obtained are probably not complete, untrue, could not timely access allows investors might miss the best time of decision, even made the wrong decision, this has caused investors possible have risks when investors using accounting information.Meanwhile, May be due to investors have cognitive biases to accounting knowledge, either there was some herding effect, Can't released from accounting information of listed company to extract useful information, Or ignoring their own accounting information, thus to bring investors with the risk of using accounting information. And all the times, in the broad scholars study the accounting information disclosed the question, which focused on accounting information disclosure problems and improvement measures for research. For example, How to regulate disclosure accounting information of the listed company to help maintain the normal order of the capital market? Etc. Yet there is no research how to effectively use of information to users of accounting information, thus reducing its own risk, This paper will based on the theory of the disclose information and investor protection to analyze, Due to the problems existing in the information disclosure itself and investors flock cognition deviation, herding effect to users and so on, bring the risk to investors From the Angle of improving capital market, Seek reform direction of information disclosure system, For stakeholders to provide corresponding decision-making basis and the reference in capital market, Guarantee the lawful rights and interests of the users of the accounting information Has the important practical significance to promote continuous and steady development of China's capital market.This research will mainly use the combine of normative research and empirical research method to analyze using literature research sums up the theoretical basis the risk of accounting information, Logic is constructed with the forms and measure of the risk of using accounting information to analyze. Survey with statistical principle to determine the object and data collection; With empirical test method to study the reason with the risk of using accounting information And through summarizing draw the conclusion; by game theory, analyze fundamental reasons of the risk of using accounting information to investors, Finally through the above-mentioned conclusion was summarized, and puts forward related Suggestions. This paper is divided into six parts, the first part of this paper is related to the international literature review of accounting information and risks, To summarize the root causes of risks of using accounting information:On the one hand, which is due to the listed company intentionally disclose false accounting information or strategic disclose for their own interest. On the other hand is due to investors exist in deviation of cognitive abilities and herding effect, they can't accurately distinguish the accounting information, or can't grasp the accounting information to analysis to their own investment decisions, which is related to the accounting information,as a result, investors could not timely make the right decisions, even made the wrong decision, thus the investors itself brought the risk of using accounting information The second part, mainly discussed the theoretical foundation, which led investors to the risk of using accounting information. The third part, analyses expressing forms of Investors use accounting information with risk and relevant measure methods, was using game analysis method to further discuss the reason of using accounting information with the risk. The fourth part, Using the empirical method to the corporate governance, part of risk for empirical test. The fifth part, how to effectively moderate evade the risks of using accounting information to investors from the normative information disclosure and investors, and puts relevant policies and Suggestions. The sixth part, is the whole thesis research conclusion and further prospects, I hope to provide certain reference for the disclosure system of accounting information in China's capital market.There is still a lot of shortcoming in the study, when research the cognitive biases lead to the risk of using accounting information to investors in the study because of the regional restrictions, cannot make the survey in Shanghai stock exchange or Shenzhen stock exchange, just only the theoretically analysis without real data for supporting.Hoping this research for further perfect our country's capital market and improve disclosure system of the accounting information in China to provide the reference; Proposing effective countermeasures and Suggestions for how to prevent the risk of using accounting information; Analyzed the effect of investors use accounting information, Found the causes of the risk of using accounting information beside provider itself "self-interest" outside, and accounting information user itself. Through analysis of two factors, for user of accounting information how to effectively using accounting information, providing useful advices, so it can achieve utility maximization.