The Research Of Disclosing The Public Companies’ Non-financial Information In China

The objective of accounting is to provide useful decision making information tousers. With the advance of the knowledge economy and information technology as therepresentative of a new economic era, economic activities have become increasinglycomplexity. Listed company, other interest-related people and the company itselfdemand for information incline to diverse. Only concerned with accounting andmanagement of funds as the core material capital of the traditional accounting modelhas been gradually showing its limitations. Restricted by the accounting recognition,measurement and accounting techniques and methods, some fundamental informationcannot announce by financial statement. Therefore, non-financial informationannouncement research has become a higher priority matter.In addition to the introduction and conclusion, the main part of the thesisresearches the basic non-financial information theory, the influence factors fornon-financial listed company announcement and promoting the strategy ofannouncement standard for our listed company. As discuss below:Chapter one is introduction. This chapter divided for five parts. The first partdescribes the background and significance of non-financial information announcement.The non-financial information is supplementary and deepens the level of financialinformation announcement. It shows its fundamental effect on increase the informationannouncement level of a company and display the prospect of the future of a company.Foreign scholars initiate research the non-financial announcement from the beginning ofthe1960s and already established a more mature theoretical system. However, in ourcountry, for non-financial announcement, no matter theoretic research and practicalresearch is far more behind the developed countries. The second part literature reviewedthe domestic and international non-financial announcement, reviewed the various theories and perspectives and compares the research of it. The third part describes theresearch contents and methods of this thesis. Part four summarizes the innovation andfinally proposes the basic framework of this thesis.Chapter two researches the theories of non-financial announcement. First, we knewthe basic non-financial announcement theory. Analysis the basic non-financialannouncement theory from general to specific. General theory including principal-agenttheory, Useful decision theory and cost benefit principle. Specific theories includeinterest-related theory, harmony development theory and sustainable developmenttheory. Second define the definition of non-financial information. The author researchesthe definition of domestic and international literature review on non-financialinformation. It is considered that non-financial information is corresponding to fanaticalinformation, is related to business activities and interest-related people, cannotmeasured by monetary units, are not bound by GAAP. Then, describes thecharacteristics of non-financial information, diversity content, extensive space, andcontinuity in time, authenticity and analyticity, flexible, non-monetary and secondarysubsidiary. Third, discusses the content of the non-financial announcement information,including information on company governance, operation performance information,social responsibility information, environment information and sustainable developmentinformation. And then, discuss the motivation of non-financial informationannouncement. The author reference foreign theories about motivation of non-financialinformation announcement and analysis the listed-company in our country, perceivethey have four motivations: stock compensation, financing incentive, litigation costshypothesis and ownership costs. Finally, the author compares the financial informationand non-financial information by the lists.Chapter three, an empirical study about influence factors of non-financialinformation announcement in our country’s listed-company. Firstly, analyses the indexof non-financial announcement information. Many scholars believe that theannouncement of non-financial information method can be used to measure the non-financial information announcement degree of listed–company. Secondly Bystudying the existing research theory, through the establishment of a simple regressionmodel and a multiple regression model, to analyze the nine factors of affecting thenon-financial information disclosure of listed companies, namely, the company size,financial leverage, profitability, the board of directors of the maximum amount ofownership, ownership of the board of supervisors, the top three senior executives,industry type, total remuneration company location and the comptroller opinions. Theresults found that only the company size, the board ownership and the location ofcompany affect the degree of the non-financial information disclosure of listedcompanies significantly. The industry types，total amount of the top three executiveremuneration and the comptroller opinions have moderate positive correlation withthe non-financial information disclosure of listed companies. While financial leverage,profitability, ownership of the board of supervisors have no significant correlation withthe degree of the non-financial information disclosure of listed companies.The fourth chapter. This chapter is to build the countermeasure model to enhancethe level of non-financial information disclosure of listed companies in our countrybased on the empirical analysis. Put forward countermeasures and Suggestions in termsof several aspects, such improving the standardization of the non-financial informationdisclosure, strengthen the supervision of the securities institutions, guarantee thepositive role of executive compensation and establish a perfect social intermediaryservice institutions.Finally, summarize the full text, put forward the expectation and the possibility offurther research for the deficiency of this article.