The Influence Of Biological Assets Information Disclosure On Enterprise Value Based On Agricultural Listed Companies

As the representative of agricultural advanced productive forces,agricultural enterprises are the bridge between farmers and the market,and the core organization to realize the development of agricultural modernization,and biological assets are usually important assets of agricultural enterprises.Based on the particularity of biological assets,confirmation,measurement and disclosure of related information are helpful to reflect the real financial situation and operating results of enterprises.With the development of world economic integration and the increasing agricultural activities of Chinese enterprises,it is an inevitable trend to standardize agricultural activities.International Accounting Standard 41-Agriculture(hereinafter referred to as IAS41)was issued in 2001 to adapt to the country.In 2006,the Ministry of Finance issued Enterprise Accounting Standard No.5-Biological assets(hereinafter referred to as CAS5),which has been implemented since January 1,2007.This paper is based on this point,on the basis of comparative analysis of the differences of relevant biological assets information disclosure standards at home and abroad,using 149 samples of 31 agricultural listed companies with biological assets in the capital market in recent 5 years,using entropy weight method to analyze the current situation and problems of biological assets information disclosure degree of agricultural listed companies,and regression analysis of the impact of the quality of biological assets information disclosure on the value of enterprises.in order to improve the information disclosure of biological assets in listed agricultural companies and promote the sustainable development of agricultural enterprises.The conclusions are as follows:In first,the information disclosure of biological assets of agricultural listed companies is not standardized enough,lack of comparability and unity.So it is necessary to strengthen the disclosure of the quantity of productive biological assets,the classification of consumable biological assets needs to be explained in more detail,and the disclosure of public welfare biological assets needs to be strengthened.In second,the timeliness,adequacy and disclosure quality of biological assets disclosed by agricultural listed companies have a certain degree of positive effect on the value of agricultural listed companies.Based on the results of the above analysis and empirical test,this paper puts forward some suggestions to improve the quality of biological assets information disclosure,including:In first,speeding up the improvement of laws and regulations on biological assets information disclosure and further promoting the introduction of new standards.In second,strengthen the supervision of government departments and protect the rights and interests of the main investors.In third,strengthening the professionalism of company management and perfecting the governance ability of the company.In fourth,improve the quality of biological assets information disclosure and fully disclose biological assets information in a timely manner.In fifth,improve the professional ability of third-party audit and improve the third-party supervision system.In sixth,strengthen the relevant theoretical research of biological assets.We will promote the construction of the theoretical system of biological assets.