The Research On The Information Disclosure Distortion Of Listed Companies In China Based On The Game Theory

Information release distortion exists in every stock market in any country,while it is especially aggravating in China.The real effective information supply of quoted companies is necessary for the healthy development of stock market. Therefore,it is significant in both theoretically and practically to analyze the causes of information release distortion in quoted company and find the measures to improve the problem.This paper based on game theory,applying theoretical research combining with empirical analysis to investigate the problem of information release distortion in quoted companies in our country.The following are the main research work and innovative results:1.This paper summarize the research condition of information release distortion in quoted companies in both at home and abroad,and then introduce the research framework and indicated the current existing problems of information release distortion in quoted companies in China.2.The paper have an empirical analysis to the harm of information release distortion in quoted companies in China,which proved that the continual false information in quoted companies would cause the stock market contraction. Meanwhile,the author also analysis the stock market loss caused by information release distortion in quoted companies.3.The author apply game theory to empirically analyze the causes of information release distortion in quoted companies in our country from the inter-gaming of correlative interest subjects' perspectives.4.Put forward some supervising policy suggestions on preventing quoted companies release distorted information according to the causes of information release distortion in quoted companies.