The Study Of Information Disclosure In Financial Governance

Stakeholders financial governance is a financial powers allocation mechanism and management system in stakeholders. Information disclosure is the important mechanism to solve information asymmetry in stakeholders. And its quality affects decision-making and rights protection of stakeholders, as well as the effectiveness of the capital market. Financial governance and information disclosure closely related and interaction improve to each other. Effective financial governance improves the quality of information disclosure, and the quality improvement of information disclosure helps stakeholders protect their financial interests and the power of financial governance, improve the efficiency of the company's financial governance. So, exploring and researching information disclosure around the financial governance has important theoretical significance and more important practical significance.Financial governance information is a link between information disclosure and financial governance, its disclosure quality directly related to the effect of interaction improve between each other. In this article, I build a financial governance information disclosure system, and study its definition, Cost-benefit, contents, forms, statements, documents, frequency, timing, media and so on. The 2007 annual report of Wuhan Linuo Solar Energy Group Co., Ltd. is an example to study the financial governance information disclosure status. From Linuo's report, the financial governance information disclosure can not be optimistic, there are a lot of respects for improvement.Financial governance is the quality of information disclosure. In addition, monitoring system of laws and regulatory bodies are the external guarantee. From the practice of view, China's information disclosure laws are constantly improving, the SFC, the Stock Exchange, the Chinese Institute of Certified Public Accountants is play their active role in listed company information disclosure. However, there is false information in information disclosure, the information disclosure does not take the initiative, inadequate and not in a timely manner, and so on. It seriously affecting the stable development of the securities market and the financial benefits of stakeholders.Combination of the above analysis, this article made some counter measures to improve the quality of information disclosure in the financial governance. Such as improving internal financial control system, establishing internal governance information system; improving external financial governance system, strengthen the supervision of external information disclosure; building a social credit environment, formation the effective stakeholder needs, and promote information disclosure; establishing a sound incentive and restraint mechanisms, standardizing the information providers, to ensure the quality of information disclosure.