Institutional Environment And Accounting Information Disclosure-Based On The Nature Of Property Rights

The high quality accounting information disclosure,which is a vital means of playing the effectiveness of the stock market,the guarantee of improving the investor protection mechanism,and the tool to improve the efficiency of resource allocation,is playing an important role in the development of a modern economic market.The cause of the low quality of accounting information disclosure,mainly due to the problem of interest conflict which is resulting from asymmetric information and the separation of management rights and ownership,while the improvement of the institutional environment helps to reduce the phenomenon of interest conflict caused by the asymmetric information and separation of two rights.China is now in the reform period of hardship,the actual control problem is more prominent in the listed companies because of some historical reasons and the defect of related governance mechanism and the system,and the institutional environment has a different effect on the quality of accounting information disclosure in the listed companies of different nature of property rights caused by the unbalanced regional economic development and the big difference of institutional environment.The paper studies the relationship between institutional environment and the quality of accounting information disclosure system from the perspective of the nature of the property.After taking the Shenzhen A-share listed companies as study sample,and taking the accounting information disclosure of listed companies issued by the Shenzhen Stock Exchange as a result of the assessment of accounting information disclosure quality metrics,finally testify the relations between institutional environment,accounting information disclosure quality and nature of property by analysis.First,the improvement of the institutional environment can increase the quality of accounting information disclosure.Secondly,compared with non-state-controlled listed companies,the accounting information disclosure of state-controlled listed companies has higher quality.And finally,the institutional environment makes different influence to the accounting information disclosure quality of the listed companies with different nature of property rights,the institutional environment plays a better role in non-state-owned listed company accounting information disclosure.The results of this study will bring enlightenment to the policies of the relevant authorities and regulatory agencies.