The Influence Of Internal Control And Media Attention On The Quality Of Accounting Information

Capital market is a place for allocating resources,investors determine the flow of resources they possess by accounting information from the disclosure of listed companies to o reduce the information asymmetry,into higher value,good operating performance of enterprises,for the development of the companies.And company type enterprises,ownership and right of management have been separated,shareholders entrust the management to engage in the company's daily business activities,in order to realize maximize shareholder wealth,but the information asymmetry of both makes the management show the adverse selection and moral hazard,in the process of the entrusted agency,damaging the interests of the shareholders.To ease principal-agent conflict,companies establish internal control system,to supervise the management,protecting shoulders' selfish interests from damaging to the shareholders' interests.But internal control itself has limitations,its quality cannot be guaranteed absolutely,once internal control failed,the likelihood of the management's surplus manipulation has been reduced lack of effective supervision,which lower the quality of accounting information in the enterprise.In contemporary society,media such as television,radio,newspaper and network has been developed rapidly,on which media reports spread fast and wide.Media can collect the related information of listed companies,and transfer it to the public,being an important part of corporate governance.This paper makes a research on the respective and associated influence of internal control and media attention on the quality of accounting information,using the method of theoretical research,empirical analysis and Stata statistics software,putting forward the research hypothesis,and establish regression model,based on the data about A shares listed companies from 2013 to 2016 in Shenzhen stock exchange main board.The research results show,(1)High quality internal control can enhances the ability that shareholders find the management's surplus manipulation,to promote thecompany improving the accounting information quality.(2)Media attention put huge pressure on the management and suppress the earnings manipulation,eventually improve the company's accounting information quality through three governance paths.And media attention in the research is divided into policy-oriented media attention and the market-oriented media attention,the study found that policy-oriented media attention can effectively enhance the quality of the accounting information of listed companies,and market-oriented media attention has no function on the quality of the accounting information of listed companies.(3)when the company internal control quality is low,the improvement of media attention can effectively improve the accounting information quality,which illustrates substitute relationship between internal control and media attention makes ensure the quality of accounting information,through the media focus on governance role,when there is a lack in the internal control of listed companies.Our country is in the crucial stage of economic transformation,based on the above research results,Firstly,the paper deepened the understanding of the role of corporate governance about internal control and media attention;Secondly,the paper provides the path of improving accounting information quality of listed companies;Finally,the paper provides advices about establishing a mature governance mechanism at the corporate level and improving external environment contribution at the country level...