Empirical Study Of The Impact Of Accounting Culture On Financial Informationg Disclosure

With the economic globalization, capital markets have breakthrough borders. Although the global capital market is developing, it also gradually exposed many problems which include lacking of high quality, high comparability of financial information. At present, the domestic and foreign scholars basically from enterprise level research on factors that affect the financial information disclosure, there is very little from the cultural, economic, legal and political to research the financial information disclosure and the way to improving the level of financial information disclosure. Cultural globalization is the deeper embodiment of the economic globalization, so this article which based on the perspective of the cultural differences among different countries to research the reasons of the differences of financial information disclosed and the ways to improve it.This article places of financial information disclosure within the framework of cultural environment, first of all this paper review of previous related literature. This section introduces the connotation and content of the culture, accounting culture can be divided into accounting material culture, system culture and spiritual culture. In addition, this article also introduces the Hofstede-Gray theory framework, and review the research results of foreign scholars about the relationship between culture and financial disclosure.On the basis of reviewing predecessors’ research results, this section will set out to establish the theoretical basis for this article. How to build the link between accounting culture and financial information disclosure is an important part of this article. First, this paper argues that the relationship between accounting culture and financial disclosure including indirect and direct relations. Indirect relationship reflected in the economic level influence on accounting information disclosure, and culture is the deep expression of economy, then culture closely linked with financial information disclosure; Direct relationship is embodied in three levels of accounting culture will produce essential effect on financial information disclosure. After establishing the relationship between accounting culture and financial information disclosure, this article from the cultural perspective analysis differences of financial information disclosure between Chinese and western countrie. Ho fstede-Gray theory framework is the most important theory in the study of culture, on the basis of the different cultural dimension, through the investigation to set the value to each sample countries. Through the comparative analysis found that the difference of accounting culture in different countries lead to the differences of accounting system, of course also include differences in the levels of financial disclosure.After introduce the theoretical basis of this paper, the paper empirical analyze of the effect of culture on the financial information disclosure. On the basis of data gathered from 250 samples drawn from mainland China, Hong Kong, Taiwan and the United States, this paper which based on Hofstede’s socio-cultural theory and Gray’s accounting subcultural theory, aims to explore the relationship among culture, law and financial disclosure. Empirical analysis shows that culture is significantly affect the level of financial disclosure. Difference with existing research, this paper constructs interactive variables of culture and law, and the result finds that law has a significant influence on the relationship between culture and financial disclosure.Last, the paper suggest that develop and reform of accounting culture to meet the demand of financial infrrmation disclosure. In addition, this article also puts forward the the future research prospects of accounting culture.