Research On The Relationship Between The Quality Of Accounting Information And The Efficiency Of Enterprise Investment In Agricultural Listed Companies

Investment activities are an important source of enterprise profits and a channel to create value for corporations.How to choose the right investment project and improve the efficiency of investment has been the hot topic in academic research.Many literature studies have shown that the quality of accounting information can affect corporate investment efficiency through applying the information asymmetry theory and principal-agent theory.Due to the impact of information asymmetry,corporate management possess more business information than other parties.In order to protect their own interests,investors will require a higher rate of return which leads to the much higher external financing costs and creates the finance bound.This directly affects the efficiency of corporate investment.The agent problem,refers to the conflict of interest between the agent and the client.A agents may carry out detrimental investment actions for his/her own benefit,at the cost of their clients.Recalling cases from recent years,there has been many incidents of financial data fraud among listed companies.The problem of accounting information inaccuracy is becoming increasingly serious.They violate regulations and harm the overall quality of information disclosure in the market.At present,there is little relevant research in the field of agriculture.Thus this so the paper chooses agricultural listed companies as the research subject in order to analyze the quality of accounting information and the present situation of investment efficiency.At the same time,this paper also attempts to clarify the relationship between accounting information quality and investment efficiency among agricultural listed companies by using descriptive statistics,correlation test and regression analysis.Finally,it is confirmed that there exists a positive correlation between the quality of accounting information and the efficiency of enterprise investment.Holding other variables constant,when the power of management become greater,the cost of agency problems will be higher and information asymmetry will be more severe,the beneficial effects of accounting information quality will be weakened.Based on the upon conclusions,the paper will give some relevant policy suggestions.