不同股权性质下董事会特征对财务重述的影响分析-analysis of the influence of board characteristics on financial restatement under different stock rights.docxVIP

StudyontheImpactofBoardCharacteristicsonFinancialRestatementunderDifferentEquityPropertiesAbstractEfficientandreliableaccountinginformationhasbeenregardedasthesubstructionthatmakescapitalmarketfunctionefficiently.Financialreports,especiallyannualfinancialreportsarethemajorcarriersofinformationdisclosureoflistedcompanies.Theyaretheimportantbasisthatinvestorsachievecompanyinformationtomakeinvestmentdecisions.InChina,therearelotsoflistedcompaniesreleasingallkindsofsupplementoramendmentannouncements,whichhavearousedmuchnegativeinfluence.Sosuchphenomenonhasbecomethefocusofsecuritiessupervisingdepartmentandtheoryacademia.Fromthemicroperspective,thequalityofspecificaccountinginformationdisclosureisdecidedbytheinternalcorporategovernancemechanism.Boardofdirectorshasbeenatthecorepositionwithincorporategovernancemechanism,sothattheboardofdirectorshasimportantresponsibilitiestoimprovethequalityoffinancialstatements.Thecorporategovernanceinourcountryisquitespecial.Forthereasonthatthecorporategovernancehasdisplayedrespectivefeatures,boardgovernancecharacteristicsmaybedifferentinstate-ownedlistedcompaniesandnon-state-ownedlistedcompanies.Sotheinfluencesonfinancialrestatementemergedbythecharacteristicsofboardofdirectorswillbehavewhatkindofdifferencesbetweenthetwokindsofcompaniesisworthytostudy.Thispaperusestheequitypropertiesasastartingpoint,anddividessamplesintotwogroups–state-ownedlistedcompaniesandnon-state-ownedcompanies.Weusefivemeasurableindexesofboardfeaturesasstudyvariables,whicharetheboardsize,therateofindependentdirectors,thedualconditionsofchairmanandgeneralmanager,boardshareholdingandshareproportionsofboardofdirectors,combiningnormativeresearchwithempiricalresearchtoexaminerespectivelythedifferentcorrelationsbetweenboardgovernanceandfinancialstatementinthetwokindsofcompanies.Theresultshowsthatinstate-ownedlistedcompaniesandnon-state-ownedlistedcompanies,theboardgovernancebehavessignificantlydifferent.Inthetwokindsofcompanies,thesizeofboardofdirectorsisbothsignificantly