Research On The Relationship Between Accounting Information Quality And Investment Efficiency Based On The Equity Nature

Under the modern enterprise system,the right of management is separated from the ownership.The control of the enterprise was vested the in the owner,but now it goes to the manager.In this case,the enterprise administrator may use the authority to modify the financial report with the data that is not available.Even if the accounting information disclosure is controlled by non-compliance means,the terminal accounting information is far from the real level.It seriously affects the value of accounting information on investment decisions,hindering investors' decision-making science and reducing the investment effect.From the perspective of China's capital market system,the socialist system has endowed China's capital market with distinctive characteristics,and most enterprises control the right to belong to the country.Based on the basic national conditions,the ultimate control of the ownership of state-owned or the nature of the non-state-owned companies management intention tendencies of accounting information are different,the artificial operation,business performance standards,and the accounting information disclosure behaviors are inconsistent.According to this view,from the perspective of enterprise finally controlling people to explore the quality of accounting information is of great significance to the action of the enterprise investment.This article will discuss the influence mechanism of accounting information quality on investment efficiency based on the perspective of equity nature,carrying out systematic research in combination with the basic national conditions of China's special system.The purpose of this study is to find out the differences between the quality of accounting information and the non-efficiency investment in different controllers' characteristics,and analyzing the reasons.Firstly,this article sorts out theoretical basis.It summarizes the effect of accounting information quality on investment efficiency,and analyzing acting path,introducing terminal control attributes,and exploring its influence on the relationship between them.Secondly this paper choose the Shenzhen A shares,mainly board,companies' data of accounting information quality and the efficiency of investment to establish regression analysis,which contains the whole samples.Then,the sample regression analysis is conducted by grouping method from the terminal controller's nature.These are conclusions:The problem of over-investment or under-investment will be restrained to some extent with the improvement of accounting information quality.From the perspective of insufficiency of investment,the relief effect of accounting information quality of non-state-owned listed companies is better than state-owned companies.From the perspective of over-investment,it is obvious that the inhibitory effect of quality of accounting information during the listed company.Finally,according to the theoretical and empirical analysis,it puts forward some suggestions.We should improve the system of accounting information disclosure of listed companies,establishing scientific and reasonable evaluation system of accounting information,enhancing the level of governance of listed companies and promoting financial personnel professional ability.