Empirical Research On Performance Attribution Information Impact On Investors’ Decision-making

Information disclosure issues has been the hot issues of academic research for a longtime. Guiding ideology around the user needs and research framework promotes the worldsecurities market information disclosure rules and the reform of corporate reporting. Onesignificant change is the steadily growing importance of language information disclosure.Language information disclosure of listed companies aims at to improving theunderstanding of accounting information to information users, and enhancing theusefulness of the information. The thesis study performance attribution, and discuss thathow performance attribution information to impact on investors’ decision-making whencompany has a good performance, in order to enrich the information the disclosure theoryand the attribution theory.The thesis uses a combination of theoretical and empirical research. Theoretical part,firstly, it defines attributed dimension concept, and bases on voluntary informationdisclosure and transparency in information disclosure to analysis attributed the informationimpact on the decision-making of investors. It is necessary that attribution theory ofWeiner explanations attribution information impact on investors’ decision-making.Secondly, using a mathematical model analysis the value of the performance attributioninformation; and analysing the site dimensions and stability dimensions impact oninvestors’ decision-making through mathematical mode; and addressing the path ofattribution information impact on the investors’ decision-making from a theoretical point ofview, the site dimensions of attribution affects on investors’ evaluate management’s abilityand investors’ expectations of the future performance and investors’ decisions indirectly;the stability dimension affect investors ’decisions and investors’ expectations of futureperformance indirectly.The thesis empirical part takes experimental research methods to collect data, anduses structural equation modeling analysis method to process the data and test thehypotheses put forward by the theoretical analysis. The thesis designs five different reasons to explain the questionnaire of a good news scenario results, through juniors andgraduate sophomore get287effective questionnaires. The results show that: the reason ofthe site dimensions and stability dimensions impact on investor decisions and extents are0.31and0.56.