Influence Analysis On Accounting Information Quality Of Listed Companies By Stakeholders

Accounting information is the basis that the users of accountinginformation learn about the financial position and operating results of an entity inorder to make effective decisions.With the development of China’s economicconstruction，the effects of accounting information are increasingly prominent. Thequality of accounting information is more and more important，so this problem is thefocus of accounting theory circles and Practice field in China.A perfect and effective accounting information disclosure system is theimportant premise and basis to establish a higher efficient management system ofstock market. The listed company, as the mainly involved body in the stock market,provides useful accounting information timely and reliably, which is benefit toimprove the efficiency of the capital market. Information disclosure system is thecore of legal system in the securities market, as well as the powerful guarantee toexecute the right to know for investors and stakeholders. The information that mayaffect the shareholders, creditors, the government regulatory agencies and all otherstakeholders make judgment on the listed company’s financial position and operatingresults and influence their decisions. And it should be disclosed in the form ofstandard in the public. Rapid developments have been taken place in China’ssecurities market, which is one of the global emerging stock market, and has beenachieved remarkable achievement in the nearly20years. Hundreds of millions ofpeople’s heart have been touching by any kind of change in securities marketconstantly. However，the phenomenon that we do not like to see still happen. Some accounting fraud events of the listed companies, especially deliberate fraud behaviors,cause the bad influence to the stock market, and seriously hinder the normally healthydevelopment of the securities market, which have bring serious consequences to thesocial economy.In August2011, a financial fraud adopted by ZiXin Pharmaceutical whichcontrolled the upstream and downstream trading created quite a stir in public. This isa huge and complex network which is based on ginseng trade. The network iscomplicated and confusing, which consist of the upstream and downstreamrelationships and the customer information. And it all finally pointed to the listedcompany actual controller and its affiliated parties. Based on this case, this paper isdivided into four chapters to research what the influence caused by the listedcompany stakeholders have on the quality of accounting information. The firstchapter introduces the background and significance of the thesis. The second chapterintroduces the literature reviews and related theoretical basis. The chapter firstly sortsout and comments on the existent literature reviews and divides stakeholders intoaccounting information providers, consumers and regulators. Their demands foraccounting information are not only similar but also different. The chapter sorts outother scholars’ analysis of what the influence caused by stakeholders have on thequality of accounting information from three different angles. Then the chapterintroduces the accounting information theory, stakeholder theory and game theoryfrom the research. The third chapter presents the company profile and developmentsof ZiXin Pharmaceutical and gives readers full explanation of this problem throughthe data. The paper lists and comments on the company’s accounting informationform2009to2010and introduce the stakeholders in the case of ZiXin for belowforeshadowing. The fourth chapter is the focus of this paper and analyses theinfluence on the accounting information caused by the main stakeholders throughgame theory in this case to find out the deep reason of accounting frauds. The last is the conclusion, which sums up a series of measures to improve the quality ofaccounting information of the listed companies in order to improve the quality ofaccounting information in our securities markets. And the paper also constructs anideal accounting information disclosure system and contributes to promote thehealthy development of the securities markets.