Research On The Relation Between Managerial Power,Accounting Information Quality And Investment Efficiency

Investment as important way of the allocation of resources, play a major role to the national economy development. High quality accounting information guide the investment efficiency.It can effectively improve the management and the agency problem between owners and management.In recent years, many scholars study the accounting information quality and the relationship between investment efficiency, but few researchers focus on the managerial power factor.With the economic system reform in our country,managerial power is continuonsly enlarging.The quality of accounting information of listed companies and investment decisions are more susceptible to the influence of subjective factors management.Therefore to study the accounting information quality from the perspective of managerial power and the relationship between investment efficiency seems particularly important.Depending on managerial power, accounting information quality and investment efficiency as a pointcut, it combines with the special market economy environment of the listed companies in China.In view of the present management of listed companies in China to use the power of rent-seeking investment and other issues and analyze the causes of these problems.Based on the financial data of listed companies from 2012 to 2014, by using Richardson model and the DD model, I examined the correlation of managerial power, accounting information quality and investment efficiency among the three.The effective combination of theoretical research and empirical test, put forward the suggestions of specification managerial power to ensure the quality of accounting information enhance the investment efficiency.Aimed at owners and investors of listed company's can grasp business situation more timely and accurately. Through these to guarantee China's long-term economic stability and development.