Research On The Impact Of Executives' Power On The Quality Of Accounting Information Disclosure From The Perspective Of Property Rights

Due toinformation asymmetry,external investors can only understand the business and financial information of enterprises through the accounting information issued by internal operators.Relevant accounting information disclosure is the most important way for investors to understand the value and operation of enterprises,and plays a decisive role in investors'judgment.How to provide the most authentic and accurate accounting information to investors is not only related to the interests of each investor,but also related to the allocation of market resources and the healthy and orderly development of the market.In the process of accounting information generation and disclosure,executives play a key role.The power of executives themselves will have a direct impact on the quality of accounting information disclosure.Based on the perspective of the nature of property rights,this paper systematically studies the influence of executive power on the quality of accounting information disclosure,and the difference of the impact of different enterprises with different property rights.This paper chooses the listed companies in Shenzhen Stock Exchange from 2013 to 2017 as the research sample.At the same time,the executive power is divided into four dimensions:ownership power,expert power,structural power and reputation power.This paper expounds the relevant theories through normative research method,and puts forward hypotheses about the relationship between executive power,property right nature and information disclosure quality based on the existing literature.It uses ordered Logit regression analysis method to empirically test the influence of executive power on the quality of accounting information disclosure.Then,according to the nature of property right,the whole sample is divided into two groups,state-owned and non-state-owned,and comparative analysis is made.The difference of this influence under different conditions of enterprise property rights.At the same time,in order to verify the robustness of the research results,binary logit regression is used instead of ordered logit regression analysis to test the robustness of the research results.Finally,based on the empirical analysis,this paper draws the results of this study,and puts forward reasonable suggestions for improving the quality of information disclosure of listed companies.Relevant studies show that executive ownership power and expert power can improve the quality of accounting information disclosure;executive structural power has a negative impact on the quality of accounting information disclosure;executive reputation power has no significant negative correlation with the quality of accounting information disclosure.Moreover,the same dimension of executive power has different effects on the quality of accounting information disclosure of enterprises with different property rights.Compared with state-owned holding enterprises,the positive correlation between executive ownership power,expert power and the quality of accounting information disclosure of non-state-owned holding enterprises is more significant,but the negative correlation between executive structural power and the quality of accounting information disclosure of state-owned holding enterprises is more significant.Remarkable.Therefore,this paper finally clearly points out that enterprises should avoid part-time jobs,at the same time,should establish equity incentive mechanism to increase the sense of ownership of senior executives,and need to improve the internal employment mechanism,strengthen the training of professional competence of senior executives.