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Research on the Validity of Governmental Accounting Regulation

Author: ZhouBing
Tutor: PengShaoBing
School: Southwestern University of Finance and Economics
Course: Accounting
Keywords: Accounting controls Corporate governance -oriented The quality of accounting information Efficiency of Corporate Governance
CLC: F233
Type: PhD thesis
Year: 2009
Downloads: 977
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Abstract

A large number of theoretical analysis and empirical evidence suggests that the improvement of the quality of accounting information not only helps to reduce the risk of information to investors and reduce the company's cost of capital, but also benefit the improvement of the efficiency of capital allocation. Bushman (2001) pointed out that the accounting information has enormous economic effects of high-quality accounting reporting system can effectively guide investment, strengthen corporate governance and reduce information asymmetry 3 channels, improve the operational performance of the economy. , Accounting academics has long been the accounting information as a \In the process of economic development, the main functions of the accounting control system is to provide accounting information production and disclosure standards, and to prevent the occurrence of accounting irregularities. The development and improvement of the accounting control system help to improve the quality of accounting information in order to enhance the performance of enterprises, high-quality accounting information play an important role in the corporate governance mechanism and improve the efficiency of corporate governance, growth or promoting technical progress, thereby contributing to market efficiency of resource allocation and promote economic development. Without appropriate government accounting controls will not help to eliminate or reduce the accounting information market failure, and is likely to exacerbate the failure, which will reduce the efficiency of the accounting information market, and even disrupt and destroy the entire Accounting Order, but also increase the uncertainty of corporate governance the main decision-making. In recent years, a huge shock to the international community due to accounting scandals, led to the widely questioned the effectiveness of the accounting control, and thus demand for continuous improvement of accounting control (Accounting Regulation) to an unprecedented height, the 2008 financial crisis caused by the reflection of the effectiveness of the Governments of accounting controls. Accounting control effectiveness has become the current domestic and foreign new institutional economics, political science, management science, law academics and practitioners to study and concerns of a worldwide problem. Accounting information production and disclosure of non-equilibrium caused by principal-agent conflicts, contract completeness, one of the main factors of the scientific decision-making, and the reduction of the quality of accounting information will further increase moral hazard in the corporate governance probability. In view of the special status and role of accounting information in corporate governance, this article attempts to research perspective of accounting control is transferred to the final results on the role of corporate governance mechanisms, to be from a corporate governance perspective to examine the effectiveness of the Government Accounting Control, that is, by the correlation between the research quality of accounting information and corporate governance efficiency, in order to examine the effectiveness of accounting controls. Combing through the system, the course of development of the domestic and international accounting controls, the argument accounting controls, internal logic on the basis of accounting information and corporate governance, build corporate governance-oriented theory of accounting control framework around this proposition to the efficiency of corporate governance standards the effectiveness of the inspection and accounting controls, and finally to improve the effectiveness of China's accounting controls Countermeasures. This paper is divided into six chapters, each chapter as follows: Chapter 1, Introduction. Introduces the research background and research the subject, the significance of the research framework and main innovation. The second chapter, the literature review. This chapter reviews the accounting controls, corporate governance and accounting information Research, pointed out that the contribution of research and shortcomings. Chapter III, Accounting Control and Corporate Governance: Historical Perspective and experience of enlightenment. In this part, A Historical Survey of the international experience to illustrate the internal accounting control and corporate governance and inseparable. Difficult to find, from the historical evolution of accounting controls and corporate governance, accounting control deal with accounting issues hidden behind the deep-seated motivation is to improve the level of corporate governance. Chapter IV, accounting control: Rule of Thirds and logical framework. The proposed accounting controls divided into control of the quality of accounting information, accounting information disclosure control, accounting control of conduct. On this basis, the full argument accounting information disclosure regulation and market failure, accounting information quality control \sex. Chapter V, corporate governance-oriented accounting control theory framework. This chapter begins with analysis of the governance role of accounting information, the public interest theory, interest group theory, theory of economic regulation, the program of classical control theory of the historical contribution defects described, to provide a reference for government accounting control and inspiration. On this basis the corporate governance-oriented \Chapter empirical test of the effectiveness of the accounting control: study assumptions with indicators design. This chapter departure from accounting controls, accounting information quality and efficiency of corporate governance relationship analysis of the empirical test the effectiveness of accounting controls research perspective, alternative variable selection, data sources and sample selection. Chapter VII, the empirical results reported. This chapter gives a contribution to the efficiency of corporate governance model was constructed accounting information. The main stages of the accounting reform in China, the empirical analysis on China's A-share market, and descriptive statistics of the variables in the model is given first, followed by the use of accounting information on the contribution to the efficiency of corporate governance model of the A-share market in 2001, before and after the reform of the accounting control 2006 before and after the change in accounting standards accounting information on the contribution of efficiency of corporate governance comparative analysis of the 2001 reform of the accounting control significantly improve the contribution of accounting information on the efficiency of corporate governance, and the 2006 change in accounting standards has significantly reduced the accounting information on the contribution to the efficiency of corporate governance. Chapter VIII Conclusions and policy recommendations. The empirical results show that in 2001, accounting regulatory reform is effective, it improves the quality of accounting information on the contribution to the efficiency of corporate governance; accounting standards change in 2006 did not achieve the desired results, the contribution of the quality of accounting information on corporate governance efficiency. In 2000, 2006 decreased significantly. This chapter empirical conclusions in-depth analysis, and gives the corresponding policy recommendations. The innovation of this paper is: First, asked the Government Accounting Control should be oriented to corporate governance, from the perspective of corporate governance to examine the theory and practice of government accounting control. This paper presents accounting control the contents of the \(3) Accounting control of conduct, and to explore its contribution to improving the efficiency of corporate governance. But for the effectiveness of accounting controls, control of quality of accounting information, accounting information disclosure control or accounting control of conduct are not isolated, but interdependent whole, and each one another system efficiency enhancing mechanism. A Historical Survey of the domestic and international accounting controls and accounting controls, accounting information and corporate governance logical relationship between the departure to create a basic framework of corporate governance-oriented accounting control theory, and from the objectives, content, and accounting control The effectiveness of the evaluation criteria, the characteristics of effective control of the accounting control theory of corporate governance-oriented innovation and research. Fourth, the proposed contribution from the quality of accounting information on corporate governance efficiency perspective begin to evaluate the effectiveness of accounting controls. In this paper, the quality of accounting information on the contribution of the efficiency of corporate governance model, respectively, in the whole sample, according to whether the earnings grouped by the level of quality of accounting information packet empirical analysis to examine the accounting information in the company, the relationship between research quality of accounting information and corporate governance efficiency, the degree of contribution to the governance efficiency trends, relevant government agencies to take this evaluation the effect of China's securities market accounting control measures (such as standards change, accounting and legal system, strengthen supervision, etc.), in order to evaluate the effectiveness of accounting controls supported by empirical evidence. The study found that, both in the full sample, or grouping (according to whether earnings grouping, grouped by level of accounting information quality) Empirical Analysis, are statistically confirmed 2001 reform of the accounting control significantly improve the quality of accounting information, significantly enhance the accounting information contribution to the efficiency of corporate governance. 2006, the role of changes in accounting standards to improve the quality of accounting information, accounting information but reduces the contribution to the efficiency of corporate governance but could not be confirmed statistically.

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