On Announcement Of Listed Corporations

The issue of announcement of listed corporations concerns the legal obligations to the shareholders of the corporation, society and stock market which impose on public limited liability corporations.In the light of the historical experiences drawn from the emergency, growth, development and maturity of the stock markets of our country and other countries, we found that the attitude of listed corporations toward their announcement with the activities it brought about is a main formal expression which can reflect the quality of a listed corporation. In our country, the listed corporations always give fictitious statements by tamper with their announcement, in other words, the fictitious statements of many listed corporations at least embodied on falsehood of their announcement.The problems of the announcements such as falsehood and deferment are all the representations of low quality of a listed corporation. As a novel research subject, the study on announcement of the listed corporations is very significant. Firstly, this disquisition researches and discusses the necessity and theoretical foundation of the announcement from the level of legislative conceptions.Then from the practical aspect, the disquisition analyses the problems of the announcement and causes of their formation at present in our country. At last, the disquisition focus on how to perfect the announcement system of listed corporations from technical level.This disquisition can be divided into five parts:Part one clarifies the principles of the announcement of listed corporation from the aspects of necessity, particularity and benefit of the announcement.Part two discusses the theoretical foundations of the announcement including the theory of efficient market hypothesis, the theory of information asymmetry, the theory of cost and benefit, the theory of portfolio and the theory of appointed agency.Part three points out the defects and problems of the listed corporations.Part four analyses why many listed corporation can't conform to the standard.Part five puts forward the countermeasures.