A Study On The Association Between The Corporate Governance Structure And The Extent Of Information Disclosure

There is a close relation between the corporate governance structure and the extent of information disclosure. Perfect corporate governance structure has a positive impact on the extent of information disclosure. The corporate governance structure guarantees the information disclosure quality through a set of system arrangement. The perfection degree of corporate governance structure restricts information disclosure quality. Information disclosure is helpful to the transparency of corporate governance and management information. Information disclosure can eliminate the information asymmetry of internal people and external people and promote the improvement of corporate governance structure. This paper will analyze theoretically on the association between the corporate governance structure and the extent of information disclosure and carry on an empirical study into the association between internal governance structure and the extent of information disclosure. I carry on the empirical study by using the relevant data of listed companies of our country.This article is on the basis of introducing and appraising relevant references and the basic theories of corporate governance structure. The article carries on a theoretical analysis on the association between the corporate governance structure and the extent of information disclosure from six aspects which are ownership structure, feature of the board of directors, manager's incentive mechanism, control power market, product market and manager market. With our 120 listed companies as the research sample, this paper makes an empirical study on the association between internal governance structure and the extent of information disclosure from two aspects which are ownership structure and feature of the board of directors. Theoretical analysis and empirical study indicate there are a lot of defects in corporate governance structure of our country. Finally, this paper puts forward the policy suggestions on how to perfect the corporate governance structure of our country.