Monetary policy and quality of accounting information disclosure: Empirical evidences from Shenzhen A-share listed companies
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    Abstract:

    This paper collects experience data from year 2010 to year 2015 from enterprises listed in China's Shenzhen A-share to empirically test the impact of monetary policy on the quality of accounting information disclosure of listed companies in different boards by ordinal logistic regression,and discusses the nature of ownership and the degree of regional financial development in the same framework.The results show that the monetary policy will affect the quality of accounting information disclosure,and there are differences in the impact of different boards,the effect is strongest on small and medium-sized non-state firms,namely,the tighter the monetary policy is,the higher the accounting information disclosure quality of small and medium-sized non-state enterprises are,but the accounting information disclosure quality of companies listed on Main Board and GEM Board is not affected by monetary policy.Besides,whether it is tight monetary policy periods or loose years,the nature of ownership has different effects on the quality of accounting information disclosure of different listed boards:the accounting information disclosure quality of non-state enterprises in Main Board as well as Small and Medium Board is significantly lower than state-owned firms,whereas GEM Board is not the case.What's more,the influences of the degree of regional financial development on the quality of accounting information disclosure of companies in different listed boards and enterprises with different ownership are as follows:in tight monetary policy periods,the accounting information disclosure quality of state-owned companies with a higher degree of financial development is higher than those with a lower degree of financial development,but accounting information disclosure quality of small and medium-sized firms and GEM companies is not affected by regional financial development.

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傅蕴英,张明妮.货币政策与会计信息披露质量——基于深交所A股上市公司的经验证据[J].重庆大学学报社会科学版,2018,24(4):52~62

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History
  • Received:October 16,2017
  • Revised:October 16,2017
  • Adopted:
  • Online: June 08,2018
  • Published: