Study On The Factors Affecting The Effect Of Implementation Of Accounting Standards

In response to the initiative of G20 summit and FSB, China issued Chinese accounting standards for enterprises and the convergence roadmap to international financial reporting standards, which shows China’s support for the global high-quality accounting standards. Chinese accounting standards’ convergence with international financial reporting standards has won the international recognition, but whether high-quality accounting standards has improved the quality of accounting information is still controversial. High-quality accounting information does not only depend on the perfect standards system, but also depends on the effective implementation of accounting standards. Studies have found that the factors affecting implementation of accounting standards include not only internal factors, such as company characteristics and corporate governance, but also some external factors, such as legal and regulatory system, political relations and government intervention, the marketization degree of the district, etc. While based on the financial reporting supply chain perspective, I take the characteristics of the participants of financial reporting supply chain as the breakthrough point to explore the factors affecting the effect of accounting standards implementation. And I try to find the main participants in the process to provide inspiration for the future implementation of standards.Theoretical analysis and empirical research methods have been used in the thesis. First of all, this thesis summarized the existing literatures related with the accounting standards implementation effect and the financial reporting supply chain. Based on the therotical analysis of relationships between financial report’s preparation, audit, approval, supervision and the effect of the implementation of accounting standards, research hypotheses were proposed. To verify the hypothesis, I took Shenzhen Stock Exchange’s disclosure evaluation results to measure the effect of the implementation of accounting standards, and selected eight explanation variables of four aspects involved in the hypothesis. Using Shenzhen- A-share listed companies from 2009 to 2013 as samples, I built Logistic regression model to test the hypothesis set forth above.The empirical result shows the positive correlation between the effect of the implementation of accounting standards and CFO’s term, audit quality, the term of the chairman of the board and the board secretary, and government supervision level. Based on this conclusion, I threw out the following policy suggestions: First is to reduce liquidity of executives directly related to financial reporting supply chain, focusing on the role new executives played to guarantee accounting standards implementation effect; The second is to strengthen the role external regulators played in the protection of accounting standards implementation effect.Different from the previous studies, this thesis is based on the perspective of financial reporting supply chain.I systematically study the factors of accounting standards implementation effect, and try to find the main factors influencing the effect of accounting standards implementation.This is a new attempt and helps to seek for the breach to improve the effect of the implementation of accounting standards.