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资本市场的信息不对称不仅阻碍了资源的有效配置,而且妨碍了投资者获取投资回报。会计信息披露在投资者保护中具有重要作用,它可以减轻由于信息不对称带来的信息问题和代理问题。本文针对资本市场盈余管理盛行和会计信息披露质量不高的情况,总结和吸收前人的研究成果,试图回答投资者保护下什么是最重要的质量特征这一问题,并在此基础上,采用层次分析法,构建我国上市公司投资者保护质量评价体系与评价模型。
Asymmetric information in capital markets not only hinder the effective allocation of resources, but also prevent investors from obtaining return on investment. Accounting information disclosure plays an important role in investor protection. It can alleviate the information problem and agency problem caused by the information asymmetry. Based on the prevalence of earnings management in capital markets and the poor quality of accounting information disclosure, this paper summarizes and absorbs the previous research results and tries to answer the question of what is the most important quality characteristic under the protection of investors. On this basis, Analytic Hierarchy Process and Construction of Evaluation System and Evaluation Model of Investor Protection Quality in Chinese Listed Companies.