The Study On Information Gavernance Mechanism In Chinese Listed Companies

Information is the centre of the Capital Market, and Information disclosure is the statutory obligations of listed companies. The information which is disclosured on public according to the law is an important basis for decision-making investors.In recent, with the expansion of the China's stock market and the opening to the outside world of the financial sector is deepened, domestic and foreign investors pay more attention to the listed company's financial and operating situation, and the requirements of information disclosure from the listed companies is increasing, but the comprehensive factors which impact on the quality of information disclosure are variously. Because of the weak of the integrity and self-awareness of the market,these irregularities can not be eradicated fundamentally if only bound by the legal system alone,in order to enhance the quality of information disclosure and transparency, and protect the fundamental interests of medium and small investor, the governance composed of ethic and system must be established.The purpose of the paper is to find out the problems identified in the information disclosure of China's listed companies in the aspect of governance through the document retrieval collate, applying the basic theory of Economics and Finance, combining with the actual operation of the stock market, and integrating the law and the system of ethics, corporate governance, the Government and the social supervision and effective competition in the market and other factors to carry out all-round analysis, putting forward policy proposals and improving measures systematicly, exploring the effective mechanism which is according with the value oritention of China's stock market, so as to offer the practical recommendations and thinking to improve the efficiency of China's stock market and the effectiveness of supervision.