Studying On The Influence Of Accounting Information Quality On Stock Price Information Content

The stock price is mainly affected by the three aspects of information at the market level,industry level and company level.Stock price informativeness is defined by the company in the stock price level information explained that part of the amount of information.In the capital market,investors pay more attention to the information of company is accounting surplus.It is normal that the managers of company make earnings management to earn more finance.So the article has a certain practical meanings,which studies the effect of quality of accounting on stock price informativeness.This article has learn a lot about the effect of the quality of accounting information on stock price informativeness by the summary of the related literature.This paper uses the stock price non-synchronization as a measure model of stock price informativeness,and uses modified Jones as a measure of the quality of accounting information.The model has empirically analyzed more than 10,000 samples of more than 1,000 listed companies in Shanghai and Shenzhen to test the relevant hypotheses.The empirical results show that,without distinguishing the direction of earnings management and controlling other related variables,the relationship between accounting information quality and stock price informativeness is a significant positive correlation;then it is compared with the positive and negative direction of earnings management.Compared the positive earnings management.Positive earnings management,under the negative earnings management,the impact of accounting information quality on stock price informativeness is more significant on negative direction of earnings management.There is a further analysis adding nature of property rights.The result shows that;It is found that the impact of the accounting information quality of state-owned enterprises on the content of stock price informativeness is more significant than that of private companies.After the above research and analysis,this article is putting forward some suggestions which includes the company level,market system level and investor level to increase the stock price informativeness on the quality of accounting information.