Cross-border Information Exchange and Accounting Information Quality
Cross-border cooperation is the focus of securitiesregulation,in which cross-border infor-mation exchange is crucial.Taking advantage of the exogenous event of the Multilateral Memorandum of Understanding on Consultation,Cooperation and Exchange of Information(MMoU)signed by the China Securities Regulatory Commission(CSRC)in 2007,this paper examines the impact of cross-border infor-mation exchange on the quality of accounting information and its mechanism.It is found that the signing of MMoU by CSRC can significantly inhibit the positive and negative earnings management behaviors of Chi-nese cross-listed enterprises,enhance accounting conservatism,and improve earnings response coefficient.Moreover,this effect on the quality of accounting information is more obvious in state-owned enterprises and enterprises audited by the Big four international accounting firms.The conclusion of the study confirms the importance of cross-border information exchange and provides some references for securitiesregulation.
cross-border information exchangesecurities regulationcross-border cooperationac-counting information quality
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