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Research Of Evaluation On Quality Of Information Disclosure Of Listed Companies In China

Posted on:2015-07-21Degree:DoctorType:Dissertation
Country:ChinaCandidate:Z L RenFull Text:PDF
GTID:1109330452466674Subject:Business Administration
Abstract/Summary:PDF Full Text Request
Information disclosure is not only a comprehensive bridge of listed companiesfor communicating with both investors and the public, but also an important channelto establish the company’s image. High qualities of information disclosure not onlycan help investors to make scientific and rational investment decisions, reduceinvestment risks and agency costs, but also in favor of listed companies to reducefinancing costs, and improve overall operating efficiency of the capital market.However, the frequent disclosure violations of capital markets in China, andinformation disclosure quality evaluation has aroused widespread concern withregulators and academia, and has become a hotspot research of accounting andfinancial areas in recent yearsAfter elaborating the theoretical basis of information disclosure and introducinga positive and negative duality perspective, the paper firstly conducted a descriptivelystatistical analysis and comparative analysis of the current situation on informationdisclosure quality, and then established a theoretical framework of evaluation onquality of information disclosure, including evaluation goals, evaluation subjects,evaluation objectives, evaluation criteria and evaluation methods. Secondly, based ongame thinking and from the perspective of the ultimate realization of the reliability,completeness and timeliness, this paper pointed out that the cost of informationdisclosure of listed companies is a key element determines the quality of informationdisclosure, and then summarized some significant factors of information disclosurequality from the corporate governance structure, financial and audit conditions andexternal factors and environmental constraints. Finally, based on the dualityrelationship between quality of information disclosure and information disclosureviolations, the paper constructed a three-level evaluation indicator system of thequality of information disclosure from two aspects. After using amended entropy weight algorithms established on the basis of the general entropy algorithm, weevaluated the quality of information disclosure for1514listed companies from theShenzhen Stock Exchange. Through empirical calculations, t test and Wilcoxon test,the results show that amended entropy weight algorithms not only ensure nosignificant difference for evaluation findings, but also have stronger applicability andeffectiveness than general entropy algorithms.By introducing a positive and negative duality perspective, improving theevaluation system of quality of information disclosure for listed companies, andintroducing and improving entropy evaluation model, this paper have not onlyenriched and developed the theoretical and empirical research of the past relatedresearch, but also have specified the direction to enhance the quality of informationdisclosure.
Keywords/Search Tags:listed companies, information disclosure, quality of informationdisclosure, evaluation on quality of information disclosure, improved entropy weightmodel
PDF Full Text Request
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