| The occurrence of huge natural disasters is bound to impact the enterprise's normal operation and development. The stock market after disaster is desire to know the situation of disaster-related enterprises. But with the combination of the disclosure situation of China's post-disaster corporate information and the market analysis, we can see that the information disclosure system still has its imperfections. Affected enterprises cannot complete the disclosure timely. Gossip and rumors fulfill the market. The company's stock price change dramatic volatility and market trends departure from the regular pattern. These show that China's information disclosure system has problems. So how to improve our system is significant both to stabilize the stock market and the affected enterprise and to protection of the interests of investors.In this paper, the first chapter discusses the disclosure system's importance and uniqueness. Respectively, its importance is reflected in the prevention of stock market's abnormal fluctuations, the protection of the investors' interests and the improving supervision management and the establishment of effective capital markets. Because of its uniqueness, the requirements and the integrity about information disclosure system are stricter under the huge disaster.After understanding the importance and the uniqueness of information disclosure, the second chapter of this article is targeted at China's current laws about disclosure of disaster-related information, and analyze from two aspects include the basic principles and system framework, the main body, contents and the legal responsibility of the disclosure. Then combining to the actual situation, the effectiveness and the defects of existence provisions will be analyzed from two aspects, including disclosure obligators and other relevant disclosure body.On the basis of the analysis above, the third Chapter, through reference about information disclosure practice system from abroad and analysis of the views of domestic experts and scholars, advocates the proposals on improving China's information disclosure system from five aspects in this article. |
