An Empirical Study On The Impacts Of Ownership Structure On Accounting Information Quality Of Listed Companies

In recent years,domestic and international accounting fraud events continue to expose,Chinese and foreign scholars began to pay close attention to the quality of accounting information,and accounting information quality factors to do some research.Accounting information is an important basis for the decision-making of the company's managers.It is also very important to the shareholders,suppliers,investors and governments of the company.High-quality accounting information is also an important guarantee for the effective operation of the securities market.Corporate governance structure affects the quality of accounting information,the ownership structure is the basis of corporate governance structure.Corporate governance structure is the operation form of ownership structure.Different ownership structure determines the organization form of the company,which determines the different corporate governance structure and equity The structure also affects the quality of accounting information.This paper studies the impact of ownership structure on the quality of accounting information.This paper first reviews the domestic and foreign scholars 'research on the ownership structure and the quality of accounting information,and analyzes the domestic and foreign scholars' research on this subject.Secondly,it elaborates the basic theory of the ownership structure and the quality of the accounting information.On the basis of these theories,the author analyzes the influence of the ownership structure on the quality of accounting information.This article mainly analyzes the influence of ownership structure on the quality of accounting information from three aspects:the nature of ownership,the degree of equity matching and the concentration of ownership.Then the relevant assumptions are put forward on the basis of theoretical analysis.And then use the filtered Shenzhen and Shanghai stock market 2013-2015 A-share listed companies to conduct empirical research.First,the modified Jones model is used to estimate the accrual accrual profit,which is used to represent the degree of earnings management and to reverse the quality of accounting information.The explanatory variables of this paper are the quality of accounting information.The explanatory variables are equity balance,equity concentration,ratio of state-owned shares,proportion of legal person shares,proportion of management shares and proportion of outstanding shares.The control variable is the size of the company Debt ratio,return on net assets.And then the relevant multiple regression model was established.The EweS7.0 software was used to analyze the established model by using the least squares method as the estimation method.The empirical study draws the following conclusions:The ownership concentration is negatively correlated with the quality of accounting information,the proportion of state-owned shares is negatively correlated with the quality of accounting information,the proportion of legal person shares is negatively correlated with the quality of accounting information,the proportion of outstanding shares is positively correlated with the quality of accounting information The relationship between the four factors,the proportion of state-owned shares,the proportion of legal person shares and the proportion of outstanding shares is consistent with the assumption put forward in this paper.The balance of equity is negatively correlated with the quality of accounting information.This is contrary to the hypothesis proposed in this paper.China's listed companies have a complex relationship between the major shareholders,the role of equity checks and balances did not really play,but there have been several major shareholders collusion manipulation of accounting information;management shareholding and accounting information quality is positively related,but not Through the significant test,that is,the management of the holdings of listed companies on the impact of the quality of accounting information is very small,it may be because in China's equity investment in the management of late start,the management stake is still relatively low,the incentive effect is not obvious TheBased on the conclusions drawn from the empirical study,this paper presents some policy recommendations.Appropriate to reduce the proportion of state-owned shares,so that the appropriate decentralization of equity,reduce the control of state-owned shares,so that the ownership structure more reasonable,so that corporate governance more efficient.Increase the proportion of outstanding shares,so that the state-owned shares into tradable shares.The higher the proportion of outstanding shares,the more perfect the development of the securities market,the supervision of listed companies is also more powerful,which helps the listed company to improve the quality of accounting information.Appropriate to reduce the concentration of equity and increase the equity of listed companies checks and balances.So that the company's major shareholders can restrict each other,but also effective supervision of management,in this case,the company's manipulation of accounting information will be reduced.Appropriate increase to the management of the equity incentive efforts.Management holdings can promote the interests of managers and companies tend to be consistent,managers will strive to maximize the value of the company,they can also get great benefits from it.The possible innovation of this paper is that many scholars in the study of the impact of the ownership structure and the quality of accounting information,the measurement of accounting information quality is only directly selected,and this paper on the measurement of accounting information quality indicators were compared to determine the measurement Indicators,more convincing.In the majority of scholars,the proportion of outstanding shares is not used as an explanatory variable.In this paper,the proportion of outstanding shares is taken as an explanatory variable and incorporated into the regression model.