A Study On The Influence Of Investors' Ownership On The Attribution Of Metering

China’s stock market can be described as a turning point between bull and bear markets in 2014.The Shanghai Composite Index rose as high as 52.87% throughout the year, realized from the "Global Crown Bear" to "crown bull global" magnificent turn. With the stock market gradually forming the money effect, more and more companies want to earn more money from this feast. But with the revenue growing, the investors even face much more risk. Firstly, the Ministry of Finance revised the accounting standards in recent years. For example, in 2014 the Accounting Standards No. 30- Presentation of Financial Statements amendments will undoubtedly increase the difficulty to investors, the revised guidelines will also affect the rest investors’ decisions. Secondly, through the Shanghai- Hong Kong Stock Connect program and Shanghai 50 ETF of the stock option released, these also make enterprises to face greater investment risk than before. In this context, institutional investors can take advantage of their expertise, thus they can help businesses to earn lots of profits from the capital markets by their financial ability. With the institutional investors showing an increasingly profound effect in China’s capital markets, the researching for institutional investors also continued to deepen. These studies on the development bring important significance to capital markets. Sloan proposed "Accrual Anomaly" in 1996 issue as the research object, trying to verify the existence of China’s capital market, through accruals vision inspect whether institutional investors may exhibit more accurate pricing power by the ownership behavior.Firstly, this paper studies the difference between cash flow and accrual vision in terms of sustainability, compared with cash flow accounting accruals have a higher sustainability. Secondly based on theory and literatures accrued vision, modeled Sloan(1996) the investment strategy, researching of China’s capital market, the existence of accrued vision. Separate the companies at ten groups according to the level of accrual accounting, selling the highest accrual accounting group stocks, while buying a minimum set of accounting accruals stocks, gain the significant excess returns through arbitrage investment, thus proving accrued visions exist in China’s capital market. Finally, studding ownership behavior of institutional investors how to affect the accrual anomaly. Taking Bushee(1998) as the basis of the partitioning method for institutional investors, proposed the selection of 525 by institutional investors value index score for factor analysis, calculate the mean, ultimately selected 79 financial type institutional investors. We build regression model to verify the influence of the different institutional investors to affect accrued vision, confirming the positive financial type of institutional investors to exercise their rights, to better suppress the accrual vision happen.