Research on the Impact of Capital Market Opening on the Quality of Accounting Information

Yunqi Yao ()
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Yunqi Yao: Dongbei University of Finance & Economics, Surrey International Institute

A chapter in Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025), 2025, pp 89-100 from Springer

Abstract: Abstract In light of the rapid convergence of capital markets and the global economy’s integration, the capital market opening enhances the participation of foreign capital, thereby reshaping the external environment of enterprises. The interaction between accounting information quality and the capital market’s opening has become a research topic. Existing studies lack a systematic examination of the mechanism of their effects and the moderating role of internal corporate governance. This study employs statistical analysis to explore how the opening of capital markets influences the quality of corporate accounting information, focusing on how board size alters this relationship. The research is grounded in the context of reduced information asymmetry and advancements in the QFII framework. The research findings show that capital market opening improves corporate accounting information quality, and there is a differentiated moderating effect of board size. This study enriches the relevant theoretical understanding of enterprise micro-governance, provides a new framework for understanding the synergy effect of internal and external governance, and enterprise governance optimization.

Keywords: Foreign equity participation; Accounting information; Board size (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-874-5_13

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DOI: 10.2991/978-94-6463-874-5_13

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