Empirical Research On The Influencing Factors Of Voluntary Disclosure Of The Listed Companies In Pharmaceutical And Biological Products Industry In China

Pharmaceutical and biological product industry is important, concerning the national economy and people's livelihood. In recent years, the listed companies in pharmaceutical and biological product industry have gained more and more attention of the investors. In order to show the core competence and enhance social impression and improve the financing capacity of companies, the listed companies should improve the voluntary disclosure besides enhancing the mandatory disclosure, to make the public familiar with the characteristics of the industry and the enterprise strength so that they can maintain the good image and the credibility.This research firstly studies the theories of the voluntary disclosure of the listed companies in pharmaceutical and biological products industry. Secondly, to combine the domestic and international research results and the characteristics of the industry, I put forward the voluntary disclosure index, use VDI to analyze the 49 samples of 2009 annual reporting on A-share listed companies in pharmaceutical and biological products industry in shanghai Stock Exchange, and then draws the conclusions. Finally, I make suggestions on promoting the development of the voluntary disclosure from the two angles of listed companies internal improvement and external regulation.