Researching About Honest And Credit Of Information Disclosure By Listed Companies

The disclosure of accounting information is the important condition of setting up the open, just and fair security market. It is a foundation stone of constructing the security market. But its prerequisite is that listed company must be honest and creditable, the accounting information disclosed is true and believable, but not false. But all appraisals indicate that the realistic state of the capital market of our country has not met this precondition. Through analyzing the reasons that the disclosure of information of listed company of our country lacks honest and credit, studying the feasible measure of solving the problem, it is significant to improve accounting information quality and credibility that the listed company is disclosing constantly, to safeguard the security market of our country and develop in a healthy and orderly manner.At first, this thesis analyses the honest and credit question of disclosure of information according to relevant theories. At present, lacks seriously honest and credit in the disclosure of information of listed company of capital market of our country now, false information overflows, the function that the capital market disposes social resources loses efficiency. Asymmetric information theory indicates possibility of lacking honest and credit; Principal-agent theory indicates lacking honest and credit is inevitably during developing initial stage of the capital market of our country, before company's principal don't solve joining constraint and incentive compatibility constraint. And according to "plastic theory of the human nature" of the philosophy of management of the Confucianism of our country, it is possible that improves honest and credit consciousness and solve the problem.Second, the thesis has analyzed the current situation of disclosure of information of listed company. According to the appraisal of securities investors, certified accountant, securities supervision department, it is seriously in present disclosure of information of listed company of our country. For example, the accounting information disclosed isn't true, sufficient, in time and standard. False accounting information makes the resource distribution efficiency of the capital market of our country is low, it is harmful of the running of macro-economy, and is unfavorable to the listed company's own development.Third, has analyzed the reason losing honest and credit of the disclosure of information of listed company. Studies have shown that losing honest and credit iscorrelative with the social environment of influencing disclosure of information of listed company of our country. Unreasonable property relations of listed company are deep reasons; The unreasonable company administration structure is the immediate cause, it results from the unreasonable property relations; Today, information disclosure supervisory systems of our country do still imperfect, distempered, and the morals environment of the society is not good, they are also unfavorable to the honest disclosure of accounting information.Fourth, the thesis has proposed improving the honest and credit degree of disclosure of information of listed company. Cure losing credit, improve honest consciousness of the listed company also adopt the policy of multi-strategies together and comprehensive administration. Not only change the unreasonable property structure of state-run listed companies, perfect the company administration structure, but also strengthen the administration to behavior of losing honest and credit, reconstruct supervision system of the capital market of our country. In the long run, if want to eliminate the phenomenon of losing honest and credit, we must insist morals construction, improve people's morals level.The development of market is a course from confused to orderly, it is a phased phenomenon in the socialist market economic construction course that the disclosure of accounting information of listed company lacks honest and credit, with the implementation of various kinds of administration measures, the constant perfection of...