The Accounting Information Transparency And Efficiency Of Internal Capital Market Research

This article first reviewed their shareholder's shareholding is relevant literature,mainly domestic and foreign capital market related literature and domestic and international accounting information transparency of the theoretical information under certain conditions literature review.The second part of this paper describes the relevant theory,including corporate governance theory,dual principal-agent theory information under certain conditions.Signal transmission theory,this part of the empirical study for the following information under certain conditions.information under certain conditions,laid the theoretical basis hypothesis one:information under certain conditions,accounting information under certain conditions information transparency in the state-owned shares under the relatively high,under the legal person equity.Hypothesis 2: The proportion of the majority shareholder's shareholding is negatively correlated with the relationship between the transparency of the enterprise accounting information under certain conditions.Hypothesis 3:the enterprise performance in other conditions are certain circumstances,and accounting information transparency between the information under certain conditions positive correlation.Hypothesis 4: Transparency of accounting information has a positive correlation with ICM efficiency when other conditions remain unchanged.Hypothesis 5:Assuming that the performance of the firm is positively related to the ICM under certain conditions,the nature of the equity of the firm is also positively related to the ICM.The proportion of the major shareholder is also negatively correlated with the ICM.In the fourth part of this article,information under certain conditions.We mainly carry out the empirical research and design.In the process of empirical research,this paper summarizes the relevant literatures in four fields,the first is the transparency of accounting information.The second is the internal capital Market,information under certain conditions.The third area is the corporate governance,the fourth field is the company's performance,and on this basis,the four areas of the concept and characteristics of a detailed elaboration.In this paper,the accounting information and the internal capital market as the backbone of the whole,and according to the actual situation,function and efficiency information under certain conditions.in the actual situation on the basis of Jining inductive analysis,and its impact mechanism and the impact of factors analysis,at the same time,the concept of accounting information transparency and the method of judging summed up and sort out.In this study,the four indicators are selected,other indicators conduct a correlation study.In the enterprise,especially in the diversified group of enterprises is the existence information under certain conditions of internal capital market,full and efficient use of internal capital markets to relax and ease the financing constraints,reduce financing costs.Therefore,information under certain conditions to strengthen the research efforts of ICM,enterprises in the process of ample merger to provide some valuable reference.