A Study On Determinants Of Accounting Transparency

As the saying goes:"Sunshine is the best preservative". a high degree of accounting transparency is not only a" good medicine ",which could solve the rent-seeking behavior to managers and opportunistic behavior which is generated by the commissioned agent problems as both sides of asymmetric information, still the cornerstone of the normal functioning and development of the equity capital markets.The1997Southeast Asian financial crisis occurs, many international agencies consider one of the incentives as the opaque accounting information; at the beginning of the21st century, the world’s top500Enron into bankruptcy because of accounting fraud case, then Xerox, WorldCom, the Ryder Ed and other financial fraud cases led to the questioning of the listed companies’ information disclosure regulatory mechanism. Shocked the nation and even of the world’s capital markets Guangxia event lets the concept of the accounting transparency Deeply rooted by people’s heart, so that the research of the accounting Transparency can promote the improvement and development of China’s capital market.This paper uses Internal corporate governance as the starting point and the focal point, to study the influencing factors of accounting transparency. Based on previous studies, re-defines accounting transparency to make it more in line with the characteristics of China’s current stage of economic development. Perspective based on internal research, we selected nine characteristics of internal corporate governance indicators as explanatory variables, four financial indicators as set of control variables of the model. In order to safeguard the reliability of the conclusions of the study, this paper introduces the data which is from the Shenzhen Stock Exchange, the integrity of the file "" information the disclosure of evaluation results, as a comprehensive indicator to measure accounting transparency, combined with existing research, we select earnings smoothness and earnings radical targeted to study different types of corporate accounting transparency, so the formation of this study three models:evaluation of the information model, a surplus of smoothness model and surplus radical model. Among them, a comprehensive evaluation information model, the conclusions of this study focus on the reference object; surplus smooth model focuses on the issuance and allotment of the behavior of the company’s accounting transparency in the Shenzhen Stock Exchange, to test whether there is surplus of these companies smooth behavior which affects accounting transparency; surplus radical model not only tested the behavior of the company additional offering, but also after the special treatment company in-depth study, the risk of the targeted inspection of these companies in order to avoid delisting radical to adjust the surplus on accounting transparency. Finally, the three models compared and analyzed the conclusions of this paper.This paper use of standardized analytical methods and empirical analysis, in the standardize is to research component of the background factors of the impact of accounting transparency, the meaning of the theoretical basis, the factors affecting the comprehensive; in the study of empirical research, some of the major use of descriptive statistics, correlation analysis and regression analysis and other methods.From the empirical findings, the state-owned enterprises listed in Shenzhen, accounting transparency is higher than accounting transparency of non-state-owned enterprises, indicating that the executives of state-owned enterprises facing more external supervision and its own political future will help to improve the accounting transparency. Positively related to managerial ownership and board size and the evaluation results associated with earnings smoothness and earnings radical negative. Further statistics showed that non-state-owned enterprises, managerial ownership is much higher than the state-owned listed companies, executives holding the internal governance indicators can improve accounting transparency of listed companies. The negative correlation between ownership concentration and the evaluation results and earnings smoothness is moderately decentralized options help to improve accounting transparency.Indicators in the control of the company, the greater the size of the company, the higher accounting transparency, asset-liability ratio and accounting transparency is a negative correlation between high debt ratio of listed companies are facing greater inherent refinancing pressure, untrue of the company financial position is more likely.Contribution of this article is manifested in the following aspects:First, the integrated comb accounting transparency, research results, from the meaning of measurement methods, theoretical basis, the impact factor of several comprehensive analysis and comments; Secondly, drawing on the former the basis of the results of research on integrated defined the meaning of accounting transparency, to make it more in line with the characteristics of the current capital market in China, again, in order to ensure the reliability of the conclusions of the study, this paper constructed three models, the first model strong The second and the third models targeted,the results is strong reliability considering the results of three models, Finally, the paper by hand to collect the data integrity File2007-2010"information disclosure evaluation" as a reference for future research.The inadequacies of this study lies in the selection of the explanatory variables is not comprehensive and fail to Shanghai Stock Exchange listed companies included in the study.