The Influenceof Corporate Governanceonaccounting Surplus Value Relevance:an Empirical Study

In recent years, many corruption cases happened in the famous listed company. Corporate governance has got people’s attention as a social hot issue, and people’s concerns also become more and more detailed, more and more comprehensive. Corporate governance has been evaluated from several aspects. Initially, people are just concerned about the strength of the surplus capacity, and with the continuous research, people pay more attention to the accounting surplus on its quality. One of the most important is its value relevance, which means accounting surplus is associated with investors’ decision-making, which also means accounting surplus has the prediction ability for the future. Then some scholars take the two hot topics together to study, and start to explore how corporate governance influences the value relevance of accounting surplus.For these reasons, we selected the sample data of domestic listed companies, remuneration model selection and pricing models based on the study of previous scholars. From the corporate governance of the ownership structure, board characteristics and management incentive aspects of the accounting surplusvalue, select six representative indicators in corporate governance, the focus of discussion and study, in order to improve the accounting surplus value relevance from the point of view of improving corporate governance structure.This article after studies have shown that corporate governance has a significant impact on the value relevance of accounting earnings.(1) The proportion of state-owned shares of the accounting surplus value was negatively correlated, that is state-controlled higher the proportion of accounting earnings but to make the lower value relevance;(2) The proportion of independent directors on the accounting surplus value was a positive influence, help to improve the value of accounting earnings correlation with the improvement of the number of independent directors;(3) Executive compensation accounting surplus value of a positive correlation between management more inclined to abide by the ethics of the professional managers and enhance the performance of the company to get paid;(4) Ownership concentration, the equity checks and balances as well as the size of the board of accounting surplus value has yet to be verified.On corporate governance and accounting surplus value the relationship, and come to the conclusion.On the one hand, to verify the previous studies, on the other hand, also found that contrary to previous conclusions on this basis, want to give our countrylisted companies to provide a reference.