Research Of Legal System In Information Disclosure By Listed Company

The information disclosure system is the foundation stone based on the stock market's exist and development, the major content of security legal rule, One of the most important rules in worldwide countries manage their listed company .Sufficient, accurate and efficient information disclosure without delay can protect the stock market away from falsehoods and inequity, can strengthen investors'confidence. Information disclosure by listed companies is their major channels of communication with investors and market regulators. For investors, which we can call it supply side of funds, they expect listed companies can offer complete, reliable information, so they can make accurate decision .For listed companies, and pre-listed companies, they need to reduce the decrease asymmetry between them and investors, to make stock liquid, so that can reduce the financing cost. Currently there are too much asymmetry existed in our security market. Listed companies always hope to keep the information elusive. They are not active in information disclosure, considered that it will damage the profit, so they will not offer accurate information. All above, I hope to state the importance of information disclosure to whole current capital market and whole economic development via this thesis of introducing information disclosure.