Legal Issues Research On Public Supervision Of Listed Companies' Information Disclosure

The stable development of securities market is not only related with the performance of the listed companies but also with the investor's anticipation and confidence for market development.To ensure the stability of the confidence,it is essential to guarantee the integrity of the securities markets by the enhancement of supervision.The author holds that strengthening the supervision of the disclosure and reports of the listed companies is an effective way to protect the interests of small and medium-sized investors.By analyzing the existing limitation of the current information disclosure of the listed companies,this paper introduces the need of inducting disclosure and reports as a supplementary means for supervision.This paper can be divided into four parts:Firstly,starting with the concepts of the information disclosure and reports of the listed companies,this paper analyzes the features and legal attributes of the information disclosure and supervision by media,and summarizes the legal basis of the information disclosure and media supervision in combination with the legislation reality of our country.Based on the analysis of the legislation reality of the current information disclosure and media supervision of the listed companies,this paper brings forward the necessity and feasibility of the information disclosure and media supervision of the listed companies.Secondly,this paper highlights the legal conditions of the media supervision in United States and Germany.Through commonness analysis of the overseas legislation of media supervision,this paper seeks the advantages for the domestic listed companies to learn from.The third part is the core of this paper.Upon demonstration,this paper indicates and particularly analyzes the limitation of media supervision legislation of the domestic listed company.Fourthly,this paper presents the measures of media supervision and demonstrates the "duality" of the media supervision.While emphasizing the insurance of the media supervision,the restriction of the media superintendence for the listed companies is essential to prevent the negative effects.Lastly,according to the orientation of the current media,this paper analyzes how the new media-blog involving in the information disclosure and media supervision...