Analysis On The Influence Of Accounting Information Quality On The Efficiency Of Resource Allocation

Accounting information,as the basic information to evaluate the current situation of enterprise assets and predict future operational results for enterprises,plays a crucial role when capital market participants making investment decisions.For the capital market,High-quality accounting information and how the resource allocation efficiency really works,both matters much for the sustainable development for the listed companies of our country.During the process of the economic transformation of our country and high-speed development socialist market economy,how does the enterprise disclose accounting information and under which disclosure level that the enterprise performed will impact the resource allocation efficiency of the enterprise even the whole capital market.Hence,such kind of research will provide both theoretical and practical significance for the healthy development for the Chinese capital market.In this paper,normative researches were performed based on the home and abroad papers like how the accounting information influence the resource allocation efficiency.Starting from the summarized conclusion,this paper reveals the meaning and connection for accounting information quality and resource allocation efficiency.On the basis of the efficient market hypothesis theory,this paper analyzed the specific impact that accounting information quality may have on the resource allocation efficiency both from grand and microscopic perspectives.Furthermore,with the accounting data from empirical research for the Chinese listed companies,this paper proposed the hypothesis and proved by the empirical model,which leads to the conclusion.According to the empirical conclusion,this paper put forward several policy-based suggestions towards the accounting information quality development from the three aspects:enhance the listed companies' external and internal system,polish the management model of the capital market,boost the listed companies' internal control environment.Hopefully,the measurements stated in this paper will increase the accounting information quality and provides successful examples for Chinese capital market resource allocation.