Research On Disclosure Of Earning Forecast Of Listed Companies

Earnings forecast information, as a part of the forward-looking information, will occupy a more and more important role in the future development trend of the financial report, and have a vital guiding effect upon the investment decisions. Therefore, the earnings forecast disclosure problems are more and more concerned by the researcher.Disclosure of the earnings forecast information is studied in this paper in order to make it fully play its positive role in China's securities market, and ultimately to achieve the purpose of promoting the fairness and efficiency of securities market, optimizing resources collocation and protecting investors. Meanwhile, the research has referential value for securities regulatory authorities to promote the earnings forecast information disclosure system.This paper firstly reviews the domestic and foreign experts'research of related issues on earnings forecast information disclosure and summarizes the research results on this subject for many years; Secondly, the theoretical basis related to earnings forecast information disclosure is briefly described:Efficient Market Hypothesis Theory, Principal-Agent Theory and Information Asymmetries Theory; Thirdly, this paper raised the recent problems of earnings forecast information disclosure of listed company in China; Fourthly, the causes of the problems above are analyzed from the aspects of system, managers and regulatory; Finally, this paper presents effective approaches of regulating the behavior of earnings forecast information disclosure of listed companies, improving the quality of earnings forecast information, protecting the information users and improving the efficiency of stock market. Overall, this paper provides references for improving the earnings forecast information disclosure system of listed companies in China.