民营企业会计信息报告策略与证券市场监管有效性研究OA北大核心CHSSCDCSTPCD

Using firm-year observations of companies listed on Shanghai and Shenzhen Stock Ex-changes in China over the period 2003 to 2021,this paper deeply investigates the effect of the suspicion of"original sin"on the choice of accounting information reporting strategy of private enterprises and its ef-fectiveness.Results show the suspicion of"original sin"is significantly negatively related to the quality of accounting information disclosed by private enterprises,and this negative correlation is much more evi-dent in private enterprises facing higher pressure of"original sin".Shanghai and Shenzhen Stock Exchan-ges and CSRC can effectively identify the low accounting information reporting behavior of private enter-prises,and give them corresponding inquiries and penalties.Additional analysis reveals that the improve-ment of the level of property rights protection in a region will help reduce the low accounting information reporting strategies used by private enterprises.