Influence Factors Of Voluntary Disclosure Level

With the continuous development of capital markets, investors and other stakeholders on the rising demand for accounting information, mandatory disclosure of accounting information of listed companies have not fully satisfy the information needs of users and regulators, therefore, the information disclosure of listed companies face the pressure is constantly increasing. Disclose more real, effective, reliable accounting information, has become an inevitable choice for sustainable development of enterprises. As the cornerstone of the stock market listed companies, disclosure of timely, accurate, effective and transparent relationship to the vital interests of investors. Voluntary information of listed companies to disclose the market has become an important part of the capital, has become the company's stakeholders to understand an important channel for the company. However, China's Voluntary Disclosure of Listed Companies, there are still many problems, it is necessary to affect the voluntary disclosure of the factors of depth.This paper selects.107 listed companies from 2007 to 2008 in Anhui Province as the research sample, on the basis of the foreign scholars, according to new accounting standards in 2006 and China Securities Regulatory Commission annual reports of listed companies on the latest requirements in 2007, with the Voluntary disclosure of listed companies index to measure the level of voluntary disclosure, separately hypothesis that stake in the Board of Directors, Chairman and CEO are two level one, the proportion of independent directors shareholdings, ownership concentration degree, company size, debt level, profit level, Verify. relationship between hypothesis and voluntary information, Through multiple regression analysis method, discusses the impact of a listed company in Anhui Province Voluntary Disclosure level factors, Found:listed company size, profitability and voluntary disclosure level was a significant positive correlation between the extent of the liabilities and voluntary disclosure of information was a degree of positive correlation, ownership concentration and voluntary disclosure of information was a certain degree of negative correlation relations. Ownership of board, chairman and CEO are two level one, the proportion of independent directors and voluntary disclosure of relevant information has not been confirmed.