Positive Research About Corporate Governance On Voluntary Disclosure

Along with the development of security market, voluntary disclosure is receiving more attention from the investor, supervising department and listed company. Voluntary disclosure can be defined as disclosure in excess of requirements, representing free choices on the part of company managements to provide accounting and other information deemed relevant to the decision needs of users of their annual reports. With the rapid development of the agency theory in the past 30 years, it provides us theoretical basis about studying of the relationship between corporate governance and information disclosure. It is a close relationship between the corporate governance and voluntary disclosure. Perfect corporate governance has a positive impact on voluntary disclosure. Corporate governance guarantees the quality of information disclosure through a set of system arrangement. The perfection degree of corporate governance restricts voluntary disclosure quality. Voluntary disclosure is helpful to the transparency of corporate governance and management information. Voluntary disclosure can eliminate the information asymmetry of internal people and external people and promote the improvement of corporate governance structure. Therefore, I propose the main view herein: There are complementary effects with voluntary disclosure on corporate governance. Setting-up and validity of corporate governance mechanism are having great influence on the level of voluntary disclosure.The full paper is divided into four parts. Firstly, the writer sum up the study about voluntary disclosure, using them for reference. Secondly, definition of voluntary disclosure and corporate governance are stated, and the article carries on a theoretical analysis on influence to voluntary...