Empirical Study On The Effect Of Audit Committee Changing Scheduled Disclosure Dates For Periodical Report

Corporate disclosure booking system is unique to China, which require annual reports of listed companies to disclose the time of booking in order to achieve the balance disclose of annual reports. From 2004-2008 the situation, one-third of listed companies have changed the disclosure of annual appointment time, this phenomenon showed information disclosure of listed companies is not formal. At the same time it also has brought investors inconvenience because annual report is an important source of information for investment decisions. Audit committee system is an important corporate governance structure of institutional arrangements, this article attempts to look for some measurement of binding of this unprofessional disclosure acts from the prospect of the construction of the Audit Committee. Through logistic regression with the data from 2004 to 2008, this article found the establishment of the Audit Committee can regulate the changing of scheduled disclosure dates, which fewer members in the committee and more members with accounting background, more effective the Audit committee is.