Accounting Information Disclosure Research Of Listed Company On The NEEQ Market

As an important part of multi-level capital market in China, NEEQ(National Equities Exchange and Quotations) is a national securities exchange under the unified supervision of China Securities Regulating Commission, emphasizing information disclosure, listed companies of NEEQ are required to ensure the authenticity,accuracy and completeness of information disclosure. In December 2013, the State Council issued “Decisions on NEEQ Related Issues”, which stipulated that all the eligible domestic companies limited by shares can be listed in NEEQ market recommended by a security dealer. By April 30 h 2016, as many as 6945 corporations had listed in NEEQ market. With an increasing number of listed companies, information disclosure problems increase day by day, especially financial information disclosure, although NEEQ issued a series of regulations to guide and specify information disclosure recently. Therefore, it?s of great theoretical and practical significance on researching the problem of financial information disclosure for NEEQ listed companies.Reasonable information disclosure system of NEEQ, especially ensuring that the accounting information disclosed is true, accurate,and complete, will help to improve transparency and behavior of the market, create an orderly market and protect the legitimate interests of investors. Due to the presence of accounting information disclosure untrue, inaccurate, delayed non-standard, incomplete and other issues, so the relevant requirements and rules of accounting information disclosure for NEEQ listed companies still need to improve. The accounting information disclosure should emphasize the principle of mandatory as well as voluntary, appropriately highlighting the personalization and differentiation of listed companies. NEEQ listed companies should adhere to the purpose of information disclosure as the center, improve the quality of information disclosure effectively.According to the status of NEEQ listed companies, this paper screens out a small amount of data for statistical analysis, uses standard research methods and empirical research methods, through researching accounting information disclosure status quo, proposing the corresponding recommendations and measures aimed at promoting the development of China’s NEEQ market healthily and orderly. The main contents are as follows:The first chapter is an introduction, introduces the background and significance, briefly summarizes the research and study of domestic and foreign experts on the OTC market accounting information disclosure, and then puts forward research approach and content, and points out innovative characteristics and limitations of this paper.The second chapter mainly states important concepts and basic theories. Combined with the definition of important concepts, such as NEEQ, market maker, layered management, this chapter introduces market overview, the entire development process, basic orientation, as well as the important theoretical basis for accounting information disclosure of NEEQ market.The third chapter brings out the status quo, the main problems and the forming reason analysis of accounting information disclosure in NEEQ market.Combined with the status of accounting information disclosures for listed companies, this chapter mainly focuses on listed companies, by researching information disclosure rules and the actual operation, points out the presence of accounting information disclosure untrue, inaccurate, incomplete and other issues in NEEQ market, and then sorts out related data disclosure and accounting information disclosures status by deep analysis.The fourth chapter mainly focuses on the effect of NEEQ market?s future development on improving the quality of accounting information disclosure. This chapter emphasizes on the requirements for information disclosure quality after the completion of China?s credit system, moreover, analyses the release of new systems acting on information disclosure of listed companies in NEEQ market, such as market maker transaction rules, layered management and transfer to main board market.The fifth chapter is based on accounting information disclosure problems existed among NEEQ market, puts forward countermeasures and suggestions that the requirement of financial data should be furtherly relaxed, the improvement of information disclosure system based on investor demand should be insisted, the accounting information disclosure should adapt to the management and development of companies and macroeconomic; the government should strengthen supervision, prompting listed companies, security dealers, other relevant agencies and regulatory agencies by performing their duties, only in this way can the quality of accounting information disclosure be effectively improved in NEEQ market.The sixth Chapter draws conclusions.