Study Of Chinese And Foreign Listed Companies On Information Disclosure System

The listed companies information discloses system (hereafter referred to as IDS) is one of the most important systems for international communities to regulate a management their listed companies. In the market with complete legal system, the list companies, investor and the market supervisors communicate mainly through the disclosed information. As an investor, the only way to differentiate the quality of a company is to read the disclosed information of the company, because this can completely and practically know the production and financial status of the company make correct choices. If the information can not disclose in time or not overall and not true, may cheat or mislead the investor, injure the benefits of investors. Therefore, disclose the information sufficiently and efficiently is the credible guarantee of the development of the securities business.The dissertation is divided into four chapters. Chapter one firstly expounded on the background and significance of the information disclosure system, Literature review, methods of innovation and the main idea. Chapter Two introduces foreign IDS and its way of supervision, by comparison of the IDS of mainly with the United States and Japan. Chapter Three goes on with a thorough analysis of problems arising from the IDS of listed companies and of its damage so as to show the necessity of IDS. Chapter four brings forward some suggestions on the perfection of the IDS of listed companies in China.China's information disclosure system for the improvement, we must further change the functions of the government, expedite the improvement of laws and regulations, improve supervision and improve the system of responsibility for law violations; we must complete the concept of quality, continuously improve the information disclosure of listed companies authenticity , accuracy, completeness, validity and fairness, effectively improve the quality and level of supervision; learning from advanced foreign experience, our government should improve the way of information disclosure. Voluntary disclosure of information will be considered as a mandatory supplementary information disclosure and deepening; we should strength external environmental constraints of listed companies information disclosure, create a good social honest and trustworthy atmosphere. By these methods, our government ensure the quality of the listed companies information disclosure, prevent from reducing the market risk, better protection of the interests of investors, and promote the healthy and stable development of China's securities market. The improvement of IDS has a certain theoretical and practical significance.