Study On The Disclosure Mechanism Of Forward-looking Information

Along with the international economical exchange strengthens unceasingly, forward-looking information disclosure becomes the general trend. It relates to the decision-making of listed companies. As a result, how to standardize forward-looking information disclosure behavior of listed companies becomes an important question which urgently awaits to be solved. Forward-looking information disclosure is beneficial to the development and mature of capital market and to optimize the distribution of resources. As to listed companies themselves, they can also benefit from the disclosure. But however, as a result of the monopoly of forward-looking information and the defective disclosure mechanism, the theory and the reality are contradictory. In fact, listed companies never hesitate to manipulate forward-looking information disclosure for their own benefit. The behavior damages the information users' benefit seriously.We work hard to improve the disclosure mechanism of forward-looking information. First, we analyze in detail the value of forward-looking information and the supply-demand relations. Then we emphatically elaborate the monopoly supplies of forward-looking information. The financial analysts should be supported to develop quickly to change the monopoly supply status of listed companies. In the demand aspect, we analyze the demand constitution, and elaborate the financial analysts' dual statuses. Separately, we elaborate the influence factors of forward-looking information reliability from three aspects. From the two aspects of technology and system, we attempt to seek the way to improve the quality of forward-looking information.Finally, we make a preliminary discussion on forward-looking information disclosure. The conclusions are based on some newest achievements of related research. We hope that our research will be useful to improve the disclosure mechanism, quality and value of forward-looking information. What's more, we also hope it will be beneficial to reduce the disclosure costs of listed companies.