Research On The Information Disclosure Supervisory System Of Listed Companies

Information disclosure regulation is highly praised as an important mechanism for maintaining the credibility and validity of securities market in the developed securities market of west countries. In order to overcome the information asymmetric and reverse choice of the securities market, and maintain the economic order and economic security, the information disclosure regulation can comparatively effectively strengthen the transparency of the securities market, protect investors' interests, and safeguard the sound development of the securities market. Thus legislate to establish for every country in the world.A ripe information disclosure supervisory system not merely regulate the concrete juristic act of obligation people, furthermore, offers abundant relief and compensation in time to investors who are damaged while failing to fulfill the information disclosure obligation. What is a pity is that the traditional viewpoint lacks the scientific knowledge to the information disclosure supervisory system in theory and that no scientific theory exists to guide in practice, which results in investors who suffer loses because of the false information disclosure walking with difficulty in requiring compensation.Based on the above reasons, the essay attempts, by ways of comparative analysis, to review the current legislative situation of the information disclosure system of Chinese listed companies on the basis of expounding basic theory of supervisory system and giving a brief introduction about foreign ripe legislation. Furthermore, it discusses in detail the right mode and ought-to-be mode of information disclosure regulation of Chinese listed companies through three major respects: the legal essence of the information disclosure of listed companies; the legal restraining mechanism of information disclosure supervision oflisted companies; the legal liability of violating information disclosing obligation by listed companies. Expect that it can offer some advice to Chinese legislation and judicial practice.