The Analysis About The Motivation Of Financial Restatements Of Listed Companies In China

Financial restatement is to restate part of the content of the financial report that already disclosed.The reason to restate is that the financial report which have disclosed contains false information or misleading statements, or omitted some information.So, financial restatements means the published financial statements information quality is not high, quality of financial reporting information to investors and the capital market has a very important influence.However, in recent years, China’s listed companies financial restatement phenomenon occurred frequently, seriously affected the normal order of capital market, the huge damage to the interests of investors.In order to further clarify the real driving force of financial restatement in our country, this paper combed the financial restatement of related literature and induction, collecting and organizing financial restatements announcement, and carries on the statistical analysis.Based on the preparation, the article selected 2011-2013 Shanghai a-share listed companies as the research object of financial restatement announcement.In the listed company financial restatement and earnings growth, whether loss, asset-liability ratio and the relationship between the rights financing based on assumptions, created the Logistic regression model, the model after the descriptive statistics and regression analysis:This year or last year’s losses, asset-liability ratio is higher, the possibility of financial restatement is higher, total assets of yields lower financial restatement companies are more likely to happen.Finally, based on sum up of our country’s financial restatements related literature and analyzing the situation of our country listed company financial restatement, combined with the research conclusion, this paper puts forward to perfect the governance structure of listed companies, improve the efficiency of regulatory oversight, and further improve the relevant legal system, perfect our country’s information disclosure system from three aspects of policy recommendations.