Research On Financial Restatement Of Chinese Listed Companies: Motivation,Influencing Factors And Economic Consequences

The establishment of China's financial restatement system was originally to improve the quality of accounting information of listed companies,reduce the information asymmetry between investors and investees in the capital market,and improve market transparency.In recent years,many listed companies arbitrarily correct accounting errors and take financial restatement as a shield to cover up the company's losses,which makes the financial restatement system deviate from its original intention when it was established.At the same time,with the frequent financial restatement of Listed Companies in our country,the restatement has a wide range and a large amount,which has caused huge property losses to investors and has a very negative impact on the capital market.Therefore,it is necessary to study the current situation of financial restatement of Listed Companies in China with case study,to understand the underlying causes of financial restatement and its economic consequences,to standardize the financial restatement system,to effectively strengthen the supervision of relevant institutions in China,and then to improve the financial restatement system of listed companies in China.Based on a large number of domestic and foreign literature on financial restatement,this paper uses the method of case analysis,and combines the case of financial restatement of geeya technology.Through studying the changes of four aspects before and after financial restatement of geeya technology,i.e.business situation,financial situation,internal control and external market reaction,it analyzes the financial restatement of geeya technology for many times in 2009-2018 The process and content of the restatement,in order to be able to dig deep into the real motivation and implementation conditions of its financial restatement.Through the problems reflected in this case,we seek for effective supervision and regulation of financial statement re presentation,improve the information quality of corporate financial statements,and reduce the financial restatement of listed companies,so as to reduce the possibility of listed companies using financial restatement to seek illegal interests.