Efficient Markets And Accounting Information Of Listed Companies Disclosed

The development of stock market depends on the disclosure of effective information of listed company, and it is the basic safeguard to maintain the benefits of investors. In the stock market which is more legally perfect, the information that the listed companies disclose is the main exchanging channel among the investors, the market supervisors and themselves. At present, our country has made a lot of progress in the management, and construction of the disclosure of information of listed companies, and has initially formed a set of effective system of disclosing the accounting information of listed companies. However, our history of stock market is very short, and its management on the quality of disclosing information is not perfect. Nowadays, there are many irregular behaviors in the course of accounting information disclosure, and it makes the small investors have wrong decisions, brings massive loss to investment, seriously attacks investors' confidence, causes the significant fluctuation of the price, and threatens the further development of stock market. So, the author believes that we must keep a close eye on the problem of listed companies' disclosing accounting information.There is close relationship between information disclosure and the stock market. The validity of stock market is the important proof to judge the efficiency of stock market's disposing resources. How can we improve the validity of stock market by perfecting the disclosure of accounting information? It is an important problem that the theory area and economic department have paid much attention to, and it is also the key point of this essay. First, the essay puts forward the relative theory of valid market explains the relationship between the validity of stock market and disclosure of accounting information. Second, the essay analyses the validity of market and the present situation of disclosure in China, together with stock market in our country especially the present situation of development of stock market. Finally, the essay sets forth the series of suggestions to solve the problem.The essay can be divided into five parts:The first part is the preface of the essay. It introduces the background of the essay and puts forward the problem to be researched and its goal, meaning and method.The second part is the theory basis--the relative theory of valid market. Itnarrates and analyses comprehensively the document involved.The third part analyses the relationship between valid market and accounting information disclosure.The fourth part analyses the present situation of validity of stock market and disclosure of accounting information in China, then finds out the causes of the problems.The last part sets forth some suggestions to establish valid stock market in China.