The Relationship Between the Quality of Accounting Information Disclosure and the Liquidity - Based on the NEEQ Market

As an important financing platform for small and medium-sized enterprises, the NEEQ market has being developed quickly in the past two years and the market scale has expanded rapidly. A few days ago, the news that the promotion of the strategic emerging board will be suspended implies that the NEEQ market will usher in its tremendous opportunity. However, in terms of the current situation, the NEEQ market is short of liquidity. As an important link between corporates and investors, information disclosure has a great impact on financing and liquidity. Especially for the NEEQ market who actually take the registration-based stock-issuing system. Under the registration system, the supervision department does not examine the substance of the information disclosed by the company, thus strengthening the enterprises' autonomy of information disclosure. Therefore, exploring the relationship between the quality of accounting information disclosure and the liquidity under the NEEQ market environment is helpful to improve the liquidity problem from the micro level, and promote enterprises to improve the quality of information disclosure voluntarily, and then promoting the improvement of the information disclosure condition of the whole market.