2012年以来,A股市场继续低迷,并一度失守2 000点关口,面临与宏观经济走势持续背离的“异象”。从上市公司个体来看,会计信息质量不高、治理机制薄弱、内部控制形式化、决策质量低下是形成这一“异象”的深层次原因,直接影响了投资者尤其是中小投资者的保护。北京工商大学投资者保护研究中心于2010年建立了一套指数,从会计信息 Since 2012, the A-share market continued its downturn and fell below the 2,000 mark for some time, facing a “vision” that continued to diverge from macroeconomic trends. From the perspective of individual listed companies, the quality of accounting information is not high, the governance mechanism is weak, the formalization of internal control and the low quality of decision-making are the deep-seated reasons for this “vision”, which directly affects investors, especially small and medium-sized investors protection of. Beijing Technology and Business University Investor Protection Research Center in 2010 established a set of indicators, from accounting information