Entering WTO and realizing the internationalization of the stock market will have great influence on the existence and development of China's securities market,and set higher demands on the stock market supervision.
On the other hand, another different point of view which is generated from the angle of Enterprise Management and Stock Market supervision is that the Sarbanes-Oxley Act should be regarded as another significant law, which is as important as the Security Law in 1933 and Stock Exchange Law in 1934 in America's history.
Based on aforementioned reasons, a series of theoretical and practical problems in terms of market reaction and influence factors of ultra-ability dividends payout in the economic transformation period were discussed in this paper through theoretical analysis and empirical testing. Then theoretical support and policy suggestions were provided for the supervision of stock market of Chinese listed companies.
In conclusion, proceeding with the ownership structure of listed companies, legal mechanism and supervision of stock market of our country, policy proposals of how to govern ultra-ability dividends payout were put forward.
Third part of this paper includes chapter 6. In this chapter, based on summarizing the inspiration of the positive study conclusions of the second part and proceeded with consummating accounting institutions and supervision of stock market of our country, policy proposals of how to standardize voluntary accounting policy change.
Then, theoretic support and policy suggestions were provided for the supervision of stock market of Chinese listed companies, and for scientifically constituting fiscal criterion, and for consummating the accounting information disclosing system. Furthermore, the paper hope to promote the research on the object of accounting policy .
Based on the above mentioned reason, a series of theoretic and practical problems of long-time earnings forecasts, management earnings forecasts, analyst forecasts and market response of earnings forecasts error were discussed in this paper by methods of theoretic analysis and empirical testing. Then, theoretic support and policy suggestions were provided for the supervision of stock market of Chinese listed companies.