Analysis of the Impact of Accounting Information Quality on Financing Constraints of Forestry Listed Companies——Based on the Perspective of Enterprise Life Cycle

At present,China’s listed forestry companies are generally faced with the problem of financing difficulties. The resulting fund gap limits the sustainable development of enterprises,so enterprises need to seek ways to alleviate the financing constraints. This paper selected listed forestry companies in Shanghai and Shenzhen from 2010 to 2021 as the research object to empirically test the impact of accounting information quality on financing constraints of listed forestry companies in different life cycles. The results showed that there was a significant negative correlation between accounting information quality and financing constraints in the growth stage of listed forestry companies. The negative correlation between accounting information quality and financing constraint was no longer significant when listed forestry companies were in maturity and decline. According to the above research results,this paper put forward suggestions for the financing difficulties of listed forestry companies,encouraging companies to reduce financing constraints by improving the quality of accounting information.