The Research On Violation Of Information Disclosure Of Listed Companies In China

Information disclosure system of listed companies is an important safeguard for the stock market, information disclosure violations have adverse effects for both the development of securities markets and investor interests. With the development of securities market laws and regulations, the information disclosure violations are still serious. In this paper, information disclosure of listed companies is an illegal object of study, this paper use theoretical analysis and empirical analysis to study the information disclosure of listed companies.Firstly I investigate the meaning the function and development of the information disclosure system, then I summarize the information disclosure system of the present system of norms. Then 1 analysis violations of information disclosure and its manifestations through case studies.I analysis of the production of information disclosure violations in theory.Then collect information disclosure of listed companies related to illegal information, analysis violations company's industry, size, financial characteristics.I research Information disclosure of listed companies of illegal by descriptive statistics.I do analyze factors influencing listed companies. Analysis factors mainly carried out by empirical studies.Most of the previous literature have study from the perspective of corporate governance.I consider financial pressure on the enterprise as an important aspect. I establish Logistic regression model From the ownership structure, board characteristics and financial pressure Eventually I found the major factor influence the violations of information disclosure Finally, the above studies have a conclusion this paper rise up a number of recommendations.This paper use theoretical analysis, case analysis, descriptive statistics, logisitic regression analysis and other methods. There are some innovative achievements in the article reflected in this paper.Fisrt, the previous research have focused on monitoring the level of the legal system, most of the factors outside the company. For the analysis focused on the relationship between corporate governance structure and disclosure of the information.I consider financial pressure on the enterprise as an important aspect. I establish Logistic regression model From the ownership structure, board characteristics and financial pressure.Second,data selection for the empirical study, previous research have use the data from the year before violation being punished,but breaking the rules violations occurred with a certain time interval is as short as a few months or as long as two three years, this paper use the data from the year the violation occurred to ensure scientific conclusions.