Research On Voluntary Disclosure Of China Listed Companies

Information is the basis of the exchange of securities, while the system of information disclosure stone of the supervision & administration system in the security market. So, it is very necessary to study the problem of information voluntary disclosure under the credit crisis in the security market.In the first part, the thesis summarizes the history and the present of voluntary disclosure research both abroad and in China, in order to find problems existing in this field. And the object, thought and research approach adopted of this thesis are determined. Through the summarization of the concepts, approach, factors of voluntary disclosure, we can know the difference between voluntary disclosure and mandatory disclosure well.In the second part, we randomly select 120 listed companies according to its industrial ratio. Through the analysis of listed companies in China, draws the conclusion that listed companies are lack of incentive of voluntary disclosure, investors have no enough confidence with the credit of our listed companies. There have many problems in china.In the third part, taking advantages of the experience of developed markets abroad is a very important method, which can perfect and strengthen our security market, because of our backwards. The author compares our system of voluntary disclosure information with that of America. And comes up with pertinent suggestions on our development after amplifying the progress of international integration. At the same time, the proposals for improving voluntary disclosure of listed companies have been put forward. And finally, we give advice of the future research.