| Corruption is a complicated social and economic phenomenon,which is plaguing the governments of the world as a chronic disease.In economics,although some scholars have certain positive effect to corruption,but more research shows that corruption will hinder economic growth,lead to inefficient allocation of resources,widen income gap,restrict foreign investment,even can affect the stability of political systems.Nowadays,countries all over the world have adopted various measures to actively control the corruption,and our country is also engaged in an anti-corruption campaign on an unprecedented scale.Since the 18 th CPC National Congress of 2012,the new leadership of Chinese government has paid high attention to anti-corruption.the government vigorously carry out various anti-corruption work to govern corruption from the source.Strengthen the power constraints.Promulgated a number of anti-corruption policies and strengthen anti-corruption supervision and law enforcement,anti-corruption work has reached an unprecedented height.As a macro policy of the state,anti-corruption will affect the micro behavior of enterprises.The fight against corruption in the political arena is reflected in the economic field of anti bribery.The benchmark event is the bribery incident of world-renowned pharmaceutical companies GlaxoSmithKline exposure in 2013 of China.A heavy penalty of 3 billion was subsequently imposed.In view of the roll out and execution of macro economic policy will affect the enterprise's behavior and output,The author believes that the anti-corruption policy may have a significant impact on the quality of accounting information of a particular industry company.This study is based on the paradigm of macroeconomic policy to micro enterprise behavior,and studies the quality of accounting information in sensitive industries under anti-corruption policy.The concept of the object of study is the starting point of the study.First of all,the key concepts are definedBecause of the limited number of documents directly,this article starts with related research.Explore the general macro policy,anti-corruption regulations and other literature research methods and content.Find out the influence consequence andmechanism,and draw lessons from the research of the influence of anti-corruption on the quality of accounting information.Secondly,based on the theoretical and conceptual analysis of the possible effect of anti-corruption policy on the quality of accounting information,this paper puts forward the research hypothesis.Then,this study takes two listed companies of A shares in China's Shanghai and Shenzhen stock markets for 2009-2015 years as samples.From the two aspects of qualitative and quantitative,we choose the industries which are more sensitive to anti-corruption policies.Using the research policy,the most popular propensity matching double difference model.Empirical analysis of the quality of accounting information in the anti-corruption policy after the promulgation of changes.And focuses on the specific impact of the two mechanisms of enterprise performance and internal control.Based on empirical regression and more robust analysis,it is concluded that the promulgation of anti-corruption policy helps to improve the quality of accounting information.And the industry is more sensitive to verify this conclusion,in the study of the influence mechanism of the further improve the performance but will lead to a decline in the quality of accounting information,and strengthen internal control can effectively reduce the influence of accrual earnings management,real earnings management is not obvious.Based on the conclusions of the article,the paper puts forward some policy recommendations from two aspects of the government and enterprises.From the perspective of the government,the government should attach importance to anti-corruption policy brings the enterprise behavior change,deepen the application and implementation of the internal control system,further amendments to improve the internal control system,strengthen internal control norms of corporate behavior in the form of law.From the perspective of the enterprise,Enterprises should pay more attention to the quality of their own accounting information during the period of rising performance,while improving corporate governance and strengthening internal control is an important way to improve the quality of enterprise accounting information.Study on the significance of the conclusions are as follows: In this study,anti-corruption policy as the impact of external events,found the interaction between macro policy and micro enterprise,proved the positive effect of anti-corruption policy on the quality of accounting information,and corporate performance and the influence mechanism from two aspects of internal control to explore the policy,not only to enhance the reliability of the conclusion,but also provides a good a reference for enterprises to change their quality of accounting information. |
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