Research On Evaluation Of Corporate Disclosure Quality

From the 1960s, the disclosure of information on listed companies started to become the object of study abroad. Until 1994, our country appeared the research of information disclosure. After ten years of development, the construction information disclosure system, the mandatory disclosure of information, voluntary disclosure of information, and distributed disclosure of information had a rapid development in theory and demonstration areas. But all of theses can not go along without the upgrading quality of information disclosure.On the capital market, the accounting information should undergone production and disclosure aspects before business users access to information. The disclosure of information are unique to the capital market, which give some additional accounting information quality characteristics, such as timely, integrity and understandable, and so on. Generally the concept of quality of information disclosure formed by the above-mentioned aspects, and it's the general description of accounting information characters.Information disclosure is the cornerstone of the stable development of the securities market, information disclosure system of capital markets has become a basic system. In the information that listed companies has disclosed, the accounting information occupy a central position. In the capital market, listed companies publicly disclose the accounting information which are an important basis for investors'decision-making, and the investors have demand for high-quality accounting information out of concern their own interests. The quality of accounting information means to provide the users of accounting information with the usefulness qualities, such as relevance, reliability, comparability, and so on.Related theory of disclosure of information has revealed the role of information disclosure, the reasonable control of information disclosure and voluntary disclosure of information power, but the quality of information disclosure problem has not been solved very good. Western emphasis on rating assessment of information disclosure, that has played an active role in improving the companies of disclosure of information. Such as the United States Association for Investment Management and Research (AIMR) ratings, the International Center for Financial Analysis (CIFAR) index and the Standard & Poor's rating of transparency and information disclosure (T&D), and so on. China's Nankai University Business School, International Corporate Governance Research Center (2003) has done some useful the exploration on the rating of information disclosure, and the Shenzhen Stock Exchange from 2001 were also beginning to implement the appraisal work of information disclosure, setting up a "integrity files", and so on.In recent years, the incidence of illegal accounting information disclosure, to a large extent led to society, especially public investors, the crisis of confidence for accounting information. Western practice of securities regulation shows that the increased penalties are an effective means of supervision, and clear and effective accountability is the key. Intermediaries and listed companies and their governance are the main accountable parts, and there is much different from the reason of being illegal and the harm to society. So we should settings corresponding legal responsibility to different accountable parts.