The Factors And Solutions Of Affecting The Useful Value Of Financial Information Of Listed Companies

With the demands for making decision, financial information of listed companies should be the information that stakeholders focus on and use. Because usually, when stakeholders make many decisions related to the related company, the company's financial information is one of the most important basis for their decisions. In reality, however, when stakeholders of listed company in our country make decisions, their attention and use of financial information is lower than expected. This shows that there is a problem about the useful value of financial information. In the view of the above consideration, this paper proposes a new research idea. This paper starts with the factors on the useful value of financial information to study the mechanism of the factors on the useful value of financial information, and find the reasons causing useful value of financial information of listed companies in our country lower than expected, and then puts forward corresponding suggestions and countermeasures in order to improve the current situation of the useful value of financial information of listed companies in our country for reference.The current domestic and international research on useful value of financial information mainly focuses on two aspects: quality of financial information and the factors influencing the quality of financial information. They study on the final result of preparation, rather than the process of the formation of financial information. So this paper is based on the formation of financial information, which forms after the occurred transactions or events recognizing, measuring and reporting. Then this paper analyzes three factors affecting the useful value of financial information with the information coding and decoding in the progress of the formation of financial information. They are stakeholder's requirements, professional quality of financial personnel and the supervision system respectively. First, this paper puts forward and analyzes the factors affecting useful value of financial information. At the same time, this paper builds the theoretical system between the stakeholders' requirements, professional financial personnel, the supervision system to the useful value of financial information. Then this paper use the methods of theoretical deduction and normative study to qualitatively analyze the three factors affecting the useful value of financial information, explain the three factors from three aspects: why three factors affect useful value of financial information, how to influence useful value of financial information and what impact to the useful value of financial information. Then on the basis of qualitative analysis, this article further demonstrates that the stakeholders' demands affect useful value of financial information through ZIXIN PHARMACEUTICAL INDUSTRIAL CO., LTD case. Based on the sample data of 231 manufacturing enterprises on Shenzhen motherboard, this paper uses empirical methods to verify that professional quality of the financial personnel and the supervision system influence the useful value of financial information with Logistic regression model. Finally on the basis of qualitative analysis and quantitative analysis this paper draws the following conclusion:(1)In theory stakeholders' demand for financial information can get to relative and local Pareto optimal state under the guarantee of accounting standards for enterprises;(2)Pareto optimum about stakeholders' demand can be broken, which makes stakeholders' demands affect useful value of financial information;(3)Using Logistic regression model, this paper verifies that the dependent variables reflecting professional quality of financial personnel are related to independent variables and concludes that professional quality of financial personnel are positively related to the useful value of financial information;(4)Using Logistic regression model, this paper verifies that the dependent variables reflecting the supervision system are related to the independent variables reflecting the useful value of financial information and concludes that the supervision system are positively related to useful value of financial information.