Ultimate Control,Institutional Environment And Accounting Information Quality

Accounting information is a bridge between investors and listed companies.High-quality accounting information can effectively reduce information asymmetry,protect investor rights and interests,improve investor decision-making effectiveness,strengthen and improve the company's operation and management,and help optimize the resources.Configuration and market sustainability.However,in recent years,the financial fraud and manipulation of surplus of listed companies in China have been very serious,and the quality of accounting information is generally low.A large number of studies have shown that the ownership structure is highly concentrated and there are ultimate controlling shareholders.The ultimate controlling shareholder of the company obtains greater control power with less cash flow rights,resulting in greater ability to draw on the interests.At the same time,the external institutional environment will also affect the company's production and business activities.Based on this,from the perspective of ultimate control rights,this paper selects the typical variables of the ultimate controller and combines the differences in the institutional environment in each region to study the relationship between them and the quality of accounting information.Based on principal-agent theory,information asymmetry theory,incomplete contract theory and control rights theory,this paper first studies the ultimate control rights and accounting on the basis of combing and analyzing the relevant literature on the ultimate control rights,institutional environment and accounting information quality.The relevance of information quality,and then consider the impact of the external institutional environment on this basis,to further explore whether there are differences in the relationship between the ultimate control rights and the quality of accounting information in different institutional environments.Finally,based on the research conclusions,the relevant recommendations are proposed to improve the enterprise.Internal governance structure and external operating environment improve the quality of accounting information.This article selected 2009-2016 Shanghai and Shenzhen A-share listed companies as research samples,combed relevant literature,put forward research hypotheses on the basis of theoretical analysis,and empirically analyzed the ultimate control rights of listed companies by using statistical analysis software such as Stata and Excel.The relationship between the quality of accounting information and further comparing the differences in the relationship between control rights and the quality of accounting information in different institutional environments.Including the descriptive statistical analysis of the ultimate control rights and enterprise accounting information quality;through the mean difference test to analyze the impact of the ultimate controller on the quality of accounting information;through regression analysis to verify the impact of ultimate control on the quality of corporate accounting information;Explore whether there are differences between ultimate control rights and accounting information quality in different institutional environments.Finally,we put forward some suggestions and suggestions to promote the optimization of internal governance structure and external business environment,and improve the quality of enterprise accounting information.Through empirical research,the following conclusions are drawn: First,there is a negative correlation between the proportion of control rights and the quality of accounting information;second,the higher the degree of separation of the two rights,the lower the quality of enterprise accounting information;Compared with non-state-controlled enterprises,the quality of accounting information of state-controlled enterprises is higher.Fourth,compared with areas with better institutional environment,the negative relationship between the ratio of control rights and the quality of accounting information is in areas with poor institutional environment.More significant;Fifth,compared with areas with better institutional environment,the negative correlation between the separation of two rights and the quality of accounting information is more pronounced in areas with poor institutional environment.Based on the research conclusions,we puts forward the following suggestions: First,optimize the equity structure of listed companies and improve the internal governance of the company;second,improve the external institutional environment of the company and bring into play the positive role of external governance mechanisms.