Studies About Disclosure Of Accounting Information On R&D Expenditure Of Listed Companies In OTC Pharmaceutical Industry

With the development of society and the improvement of people's living standards,"big health" concept and self diagnosis consciousness have been deeply rooted in the heart.With the increasingly fierce competition,OTC market size is growing.Many foreign OTC leading enterprises including Johnson,Bayer,GSK,expand their market share through purchase OTC drug firms in our country frequently.In the face of fierce market competition and product homogenization of serious problems,the Domestic OTC pharmaceutical enterprises began to seek the transformation.R&D activity is an important standard to judge the value of the enterprise and can better promote enterprise growth,the limited R&D expenditure accounting information will lead to the problem of asymmetric information and adverse selection,which has attracted attention to the problems of R&D expenditure accounting information disclosure.In this paper,From the quantitative data disclosure and narrative disclosure,analysis both two aspects summed up the R&D expenditure accounting information disclosure content according to the Shanghai and Shenzhen stock markets in 2011-2015,based on the disclosure rules provisions from "The company information disclosure of securities for public issuance no.15 formulation of rules",which publish by CSRC.The last,also by comparative analysis of two listed companies,to make our understand more.Among them,the quantitative data including "R&D spending" amount,"development expenditure" amount and "research development fee" which under the management fees,narrative disclosure including the different standard of the research and development phase,capitalization,etc.After finishing,we found the following problems: OTC pharmaceutical industry listed companies for the division of R&D phase of the standard and the determination of capitalization,not combined with their own situation to illustrate;R&D expenditure data quantitative disclosure inconsistent;R&D of accounting information disclosure is not relevant to other issues.Through analysis may be because: Accounting information disclosure standards restricts the R&D information disclosure behavior;Enterprise of voluntary disclosure behavior driven by interests;Pharmaceutical industry attributes make enterprises pay more attention to business confidentiality.To solve above problems,this paper presents the following suggestions: The first aspect in Improvement of the system,can increase disclosure of terms,and expressly enterprises to reduce uncertainty.The second aspect in combined with their own situation,Requirements for clear division of research and development phase combined with their own situation;detailed disclosure of capitalization data;specification data disclosed checked relations;increasing spending on research and development the correlation content disclosure.