The Correlation Research Of Ownership Structure,Accounting Information Quality And Enterprise Value

Companies can achieve sustainable development,an important measure is whether the value of enterprise growth,the growth of enterprise value represents the enterprise invested the capital return value,is an enterprise to understand the comprehensive index of oneself circumstance.So,when in the modern enterprise management at present,the management of the enterprise value is more and more attention,so,how to enhance the value of the enterprise has become the focus of our research.Not only by the size of the enterprise value such as the external economic environment,itself profitability,and other factors,but also by the enterprise management,investment and financing decisions,the influence of the accounting information as the basis of making these decisions,its quality can produce very big effect to the enterprise value.Therefore,this research will be the first to the quality of the accounting information and the relationship between the enterprise value to help companies more obvious intuitive observation to the relationship between the two,to help enterprises to enhance their own value.In addition,based on the current study,the influence degree of the quality of accounting information on corporate value,not only influenced by accounting regulation,it also affected by other macroscopic or microcosmic governance effects,including power management,capital market supervision system,tax system,contract conditions,and factors such as corporate governance structure.In these factors,the company's equity structure as its important component part of the governance structure,can on its role in the governance of accounting information plays a very important role.So,we guess that ownership structure is likely to be affected the quality of the accounting information are the important factors of effect on the management of the enterprise value.This article first to the quality of accounting information,enterprise value and connotation of the concept of the equity structure and measuring method has made the detailed introduction,and then based on the information asymmetry theory,principalagent theory and control theory and related basic theory,analyzes the accounting information quality,the function of enterprise value and equity institutions will be sent to you by what way to influence the relationship between the two,and on the basis of the analysis put forward some assumptions.Selection based on the shenzhen stock exchange main board a-share listed companies in 2011-2015 financial data and samples,define variables and build the model,the empirical study of the related data and finally came to the conclusion of the paper.Research conclusion of this paper are mainly:(1)the quality of accounting information and enterprise value of correlation coefficient is positive,significant regression results,shows that there are significant positive correlation between the two;(2)the nature of equity and the quality of accounting information interaction item of the regression results of the enterprise value was not significant,show equity nature of accounting information quality had no significant correlation between enterprise value and influence;(3)equity concentration interaction with the quality of accounting information to the enterprise value of the regression coefficient is significantly negative,in the enterprise of high equity concentration,the accounting information quality is the positive influence to the enterprise value is less than the lower ownership concentration(4)the equity concentration,interaction with the quality of accounting information to the enterprise value of the regression coefficient is positive,that in the enterprise of ownership balance degree is high,the quality of the accounting information the positive influence to the enterprise value is higher than equity balance degree lower enterprise.According to the conclusion,this paper puts forward the improving accounting information quality,improve and optimize the company ownership structure and the establishment of the policy recommendations of stakeholders accounting supervision system,the three can effectively improve their value for the enterprise to provide the reference and guidance to the enterprises value rising,ensures the active development of capital market economy.