Accounting Information Disclosure Research On The NEEQ Market

On January 16,2013,the NEEQ Market was officially approved as a national over-the-counter market,and it has been thriving since its inception.It took only 4 years to reach the 10,000 family era.Up to now,the number of companies listed in the NEEQ Market has exceeded 11,000,which has exceeded the total of the Shanghai Stock Exchange and the Shenzhen Stock Exchange in terms of scale and has become one of the largest capital markets in the world.For the capital market,corporate information disclosure is directly related to the normal operation of the market.Adequate information disclosure can reduce the market's information asymmetry,protect the legitimate rights and interests of investors,and thus enhance market transparency and liquidity.The NEEQ Market has been operating for more than five years.The achievement of gratifying results also exposed some problems in information disclosure.On the one hand,there is a problem that the information disclosure is not timely,insufficient,and non-standard in the NEEQ Market.The occurrence of violations of investors' rights and interests due to illegal disclosure has occurred repeatedly.On the other hand,with the increase in the number of listed companies,the difference in scale between enterprises has become more frequent.Significantly,a one-size-fits-all management model is no longer applicable.Based on these two aspects,the nationwide stock transfer company implemented market stratification management on May 27,2016,dividing the new three board market into a base layer and an innovation layer,which improved the efficiency of information screening to some extent.On December 22,2017,the National Shares Transfer Corporation reformed the stratification system again,adjusted the conditions for entry,optimized the adjustments,and simultaneously carried out information disclosure system reforms,which put forward different requirements for companies at the base and innovation levels.Information disclosure requirements.After this reform,China's new third-board market has entered a new stage of information disclosure.However,objectively speaking,this reform has not fundamentally solved some existing problems,but also requires us to continue to explore the information disclosure system of the NEEQ Market.design.This article mainly uses normative research methods.First of all,it explains the related theory of accounting information disclosure in the NEEQ Market.Then,takes the H Company as an example to analyze the common problems existing in the accounting information disclosure in the NEEQ Market and further analyzes the reasons.After that,sort out the OTCmarkets in the United States,Japan,and Taiwan,and summarize their experience in accounting information disclosure.Finally,based on the combination of the causes of current issues and international mature experience,propose some suggestions on Accounting Information Disclosure in China's NEEQ Market: First,the information disclosure system that should be guided by investor demand;second,all participating entities should work together to raise the level of information disclosure in the NEEQ Market;third,related departments should strengthen supervision and punishment,increase The illegal cost of the listed company.