The Research Of The Special Report Of The Local State Owned Enterprises Of The Investors

After the separation of ownership and managerial authority, owners are faced with the risk of information asymmetry, risk of loss, ultra vires risk and operational inefficiency risk. Due to the characteristics of the multiple principal-agent relationship of our state-owned enterprise, there are some problems such as the owner absence, the long principal-agent chain. The risks are aggravating to the state-owned investors. The fundamental cause of the current situation is that the principal-agent mechanism is not well developed and the information is asymmetric. At present, our country state-owned enterprises multi-level principle-agent relationships improve slowly. Therefore, it can only begin with the problem of the asymmetric information. This article aims to provide the special report of the state-owned investors to solve the problem.Based on the analysis of the risks of the owners after the separation of two rights, it shows the risks of the state-owned investors, and analyzes the reason of information needs. In addition, this paper elaborates the present situation of the information disclosure quality of the local state-owned enterprises and the lack of information of the current financial reports. It analyzes practical needs of the special report. On this basis, to design special report for state-owned investors, this paper expounds the design principle of the special report, content framework, main content and the way of disclosure. The special report mainly includes the information about major events, the content of the internal distribution, final accounts audit adjustment and enterprise operating performance evaluation. Finally, combined with the case study to illustrate the feasibility and application value of the special report. It also put forward the rationalization proposal to the popularization and application of the special report.