The Research On The Relationship Between Institutional Ownership And The Quality Of Disclosure Of Information

The effective security market is based on information announcing foundation, the quality of disclosure of information of listed company, influencing investors'judgement and decision directly, the legitimate rights and interests which concern them could get the assurance,concern security market will you please normal running too.At the same time,the rapid development of institutional investors also make theoretical circles for research between institutional investors and listed companies to disclose information a hot topic of concern.This paper will investigate the relationship between institutional ownership and the quality of information disclosure of listed companies through theoretical and empirical research.This thesis retrospects the previous literature related to institutional investors and the quality of disclosure of information.At first it introduces the background and significance of the topic,through the literature review of past research on relationship between institutional ownership and corporate disclosure,the study points out the line of thought and innovation.Then,mainly through the carding of related theory, the paper identified the theoretical basis on which this paper relies. Later, mainly analyse the motivation and ways which institutional investors impact on the quality of information disclosure of listed companies.On the basis of theoretical analysis, we give the assumption and design of empirical research, identify the model, and make use of statistical methods, give all of the variables initial description of the statistical analysis. We find thst the relationship between institutional ownership and the quality of listed companies to disclose information is notably positive. This thesis finally put forward the measures based on the empirical result of developing institutional investors, strengthening the regulations of capital market and consummating the outside oversighting mechanism.