Research On The Disclosure Of Accounting Information Noise Content In Self-media In The Pharmaceutical Industr

In recent years,with the rapid development of self-media platforms,self-media platforms such as official microblogs and We Chat public numbers have become important channels for listed companies to disclose information.By using the simple and flexible nature of self-media to provide investors with accounting information,listed companies can help investors understand the company’s financial situation in a timely manner,which has a very important role in improving the disclosure environment of the company and enhancing the investment efficiency of the capital market.However,while enterprises use self-media to disclose accounting information,they will also disclose a lot of noise information,which to a certain extent will affect the impact brought by the disclosure of accounting information.At present,whether at home or abroad,there is no unified standard for self-media information disclosure,and there are large differences in the content of self-media information disclosure.In this paper,based on theoretical analysis,the impact of the disclosure of the noise content of self media accounting information will be studied in conjunction with relevant cases of listed companies in China,so as to provide certain reference and reference for the regulatory authorities to formulate sound policies,listed companies to make reasonable use of self media for disclosure,and for investors to use self media information correctly.Firstly,an overall analysis of the disclosure status of the self-media information of 275 listed companies in the pharmaceutical industry was conducted.At the same time,Ealing Pharmaceuticals was selected as a case study,and all the information disclosed on We Chat Public in the three years from 2019 to 2021 was counted in detail.The content of accounting information and noise information was analysed,and the impact arising from noise information disclosure was studied,pointing out the existing problems.Finally,some improvement measures are proposed to address the existing problems.This paper finds that the case company’s self-media platform receives a high degree of attention,and it can regularly disclose relevant information about the company on the self-media platform,thus enhancing investors’ confidence in the company’s investment and stimulating the growth of the share price.In terms of disclosure content,the case company disclosed more noisy content compared to the average of its industry,including marketing,corporate governance,honours,government and related industry,social responsibility information and other types of information.Some of this information can convey brand information,such as marketing and honours information;some can convey the state of corporate governance,such as corporate governance and social responsibility information;and some can mitigate the impact of accounting information,such as government and related industry information.All these information are positive for investors and can increase their trust in the company,which in turn can lead to an increase in the share price.However,other types of information in the noise content may cause distress to investors due to excessive disclosure.At the same time,the study also found that although the case company has its own advantages in terms of disclosure of self-media information compared with its peers,it also has several problems,such as redundant disclosure,less frequent updating of accounting information,less interaction with investors,and disclosure of mainly positive information.Therefore,this paper proposes corresponding improvement measures to address the above problems from three perspectives:the company,relevant government departments and the self-media platform.