Research On Disclosure Of Off-balance-sheet Liabilities Information Based On Incomplete Contract

Seeing from the perspective of the contract, the Accounting Standards nature is of incomplete contracts, which provides a flexib le space to the enterprise to make a choose and a judgment independently on the accounting princip les, measurement methods, estimation of the enterprise value and so on. Among them, the most representative one is freewill to disclosure the information of liab ilities off-balance-sheet. If we can study the disclosure problem of off-balance-sheet liabilities information from the perspective of the incomplete contract, it will have a great significant meaning in promoting the improvement of accounting standards, improving the usefulness of the accounting information decision, coordinating the interests of all the distribution contracts between the parties, and promoting the optimal allocation of resources.I start from the status of the information disclosure of the off-balance-sheet liab ilities, and seek reasons for the freewill information disclosure of off-balance-sheet liabilities from incomplete contract. On this basis I have a more in-depth analysis, and find that information disclosure of off-balance-sheet liabilities have a positive correlated relationship with the quality of accounting information as well as a positive correlated relationship between trade credit, bank credit and off-balance-sheet liab ilities through empirical researches. Since the acquired off-balance-sheet liab ilities information is not easy for stakeholders to get, this paper provides an alternative way to identify off-balance-sheet liabilities and risks. That is to say, in the weak-form efficient market environment and under the conditions of suffic ient supply of credit, we can level the quality of accounting information to determine whether there are hidden off-balance-sheet liab ilities, and this can be further verified by the abnormal changes in commercial credit and bank credit.This paper comes to the conclusions derived from theoretical analys is and empirical analysis,and it provides a new perspective to study the off-balance-sheet liabilities information disclosure. I really hope to provide a credible basis for the external stakeholders to identify the risk of the off-balance-sheet liabilities.