Study On The Characteristics Of Board Of Directors And Quality Of Accounting Information Disclosure

Since the establishment of the Shanghai Stock Exchange and Shenzhen StockExchange in1990and1991, China’s stock market continued development mature, thenumber of investors has increased year by year. Investors`growing demand foraccounting information of listed companies and the low credibility of the accountinginformation become the principal contradiction restricting the normal development ofChina’s securities market. Some listed companies`accounting fraud, accountinginformation disclosure violations, the phenomenon of earnings management isfrequently presented in the public’s eyes, the occurrence of these phenomena greatlyaffect the status of the minds of investors accounting information, virtually to the hit thedevelopment of China’s securities market, also brought a huge impediment to thehealthy development of China’s capital market. The face of the frequent occurrence ofaccounting information disclosure of the fraud scandal, government departments havetried every means, they hope to be able to develop a series of legal and regulatorymeasures to change the quality of accounting information disclosure. Scholars also hopeto find out the useful suggestions to solve practical problems through the study ofaccounting information disclosure quality influencing factors.Many scholars have studied the quality of accounting information disclosure, mostscholars believe that the imperfections of the governance structure of listed companiesin China is one of the important reasons causing the distortion of accountinginformation. Scholars study the corporate governance structure, most is the Board, theBoard is the core of corporate governance, and they are natural close ties with thequality of accounting information disclosure. Many scholars research can show thecharacteristics of the board have a certain impact on the quality of accountinginformation disclosure.This paper attempts to use a combination of normative and empirical researchmethods to explore the impact on the quality of accounting information disclosure fromthe characteristics of the Board. The paper selected information disclosure evaluationresults released by the Shenzhen Stock Exchange as the quality of accountinginformation disclosure substitution variables, the evaluation results excellent, good,qualified, unqualified assignment3,2,1,0. This article select the size of the board (i.e.,the total number of directors), the number of four special committees of the proportionof independent directors, the Board of Directors, the number of meetings of the Board, the total remuneration of the three directors and the board of directors shareholding sumof the number as the independence of the board characteristics, behavioralcharacteristics and incentives alternative variables. At the same time, the size of thepaper selected, asset-liability ratio, the degree of concentration of ownership andwhether the state shares as a control variable. Ultimately select2741, listed on the mainboard of the Shenzhen Stock Exchange market and small plates market samples, tryingto use SPSS18.0processing of data, and the linear regression analysis of the relationshipof accounting information disclosure quality and characteristics of the Board, andultimately arrive empirical conclusions.The research results show that there is no clear correlation between the size of theBoard and the disclosure of accounting information quality; accounting informationdisclosure quality does not increase with the improvement of the proportion ofindependent directors; the four special committees established by the Board of Directors,the greater the number, the higher the quality of accounting information disclosure;negatively correlated with the number of meetings of the Board and the quality ofaccounting information disclosure, but not significantly; directors ’remuneration ishigher, the higher the quality of accounting information disclosure; greater the numberof directors’ shareholdings, the higher the quality of accounting information disclosure.We made the following policy recommendations: improve the structure of the Board,improve the quality of accounting information disclosure. The main policyrecommendations: to improve the quality of the Directors, to perfect the system ofindependent directors to improve the Board of Directors consists of professionalcommittees, improve quality and improve the incentives of the Board of Boardmeetings.This paper is divided into six parts, the concrete structure is as follows: The firstpart is an introduction, mainly about the research background and significance of thetopic, research ideas and methods of research and writing of this article framework;second part is a literature review, by summarize about the size of the board and thedisclosure of accounting information quality at home and abroad, the proportion ofindependent directors with accounting information disclosure quality, the Board consistsof the Professional Committee of the quality of accounting information disclosure, thenumber of meetings of the Board and the quality of accounting information disclosure,pay incentive mechanisms and equity incentives and accounting information disclosureof the quality of the relevant literature, to fully understand the results of previous studies and research methods, previous human research on this research direction; The thirdpart is the definition and theoretical analysis, is defined in the Board, the Boardcharacteristics and accounting information disclosed definition, as well as analysis ofthe theoretical basis, that principal-agency theory and stakeholder management theory;fourth part is the research hypothesis and research design, based on the basis of relevanttheories and related research, asked the Board Characteristic of this article is the qualityof accounting information disclosure selected a reasonable variable and sample, andthen build a regression model based on the assumption that the theoretical assumptions;fifth part of the empirical findings and analysis, use SPSS18.0pair data descriptivestatistics, correlation analysis model constructed and regression analysis, and robustnessof the test, the final conclusion; Part VI Conclusion, based on theoretical assumptionsand data regression results for conclusions, and recommendations related, at the sametime simply narrative innovation of this paper and research.