Listed On The Authenticity Of The Company's Disclosure Research

After years of exploration and practice, China's securities market in adjusting the economic structure, optimize the allocation of resources, changing enterprise mechanisms, and promote economic development, and have played an important role. With the continuous development of the securities market, of which the existence of the problem has become evident, false information disclosure of listed companies is a very serious problem. To solve this problem, during the two sessions, Premier Wen Jiabao said: "The Government is confident of raising the quality of listed companies, establish an open, fair and transparent market system will enhance the supervision of the capital market to ensure that the information disclosure of listed companies authenticity, so as to establish a mature capital market. at the same time he will pay close attention to the health and development of the stock market."2007, Hang Xiao Steel stock market is among the day's most cattle, cattle We say it, or that it is not just huge, but also because of its "anti-regulation", that is, the SFC investigation Hang Xiao Steel speculation information disclosure of irregularities at the same time, its shares still rose tenacious. February 15, 2007, issued a notice of Steel Hang Xiao said, "the company is negotiating with the owners of offshore construction project, which involves the overall total of about 30 billion yuan RMB," This contract with Angola actual draft agreement, "the Construction at the construction site with the conditions within two vears after the completion of "serious content inconsistent with financial information and measures to be described with the expression of the phenomenon of inconsistency or condition, did not say this enough to misleading investors so that investors have the impression that the item have a real and effective implementation of the conditions.Hang Xiao Steel in violation of the above-mentioned "People's Republic of Securities Act" section 63 "issuers, listed companies to disclose information in accordance with the law must be true, accurate, complete, and there must be no false records, misleading statements or material omissions" requirements. And the "public companies to disclose information management approach" Article 3 "issuers, listed company directors, supervisors and senior management personnel should be loyal, hard-working and perform their duties to ensure that the disclosure of information is true, accurate, complete, timely, fair." Provisions The case reflects the current system of information disclosure of listed companies and weak corporate governance structure and the confusion of the repeated false financial information disclosure and corporate governance structure formed by standardizing the enormous loophole in the system, resulting information disclosure of listed companies of the substantive operation and the Model lower. As long as the corporate governance of listed internal and external control mechanisms are not perfect, listed companies use asymmetric information on the profit motive can not contain. Relief for investors will not achieve much after the security and fundamental interests of the counter. At this point, the incident, the domestic securities sector has stepped up its monitoring of listed companies to disclose information to the extent of supervision, so as to ensure the authenticity of the information disclosure and accuracy.Based on the above understanding, the paper of listed companies in the false financial information disclosure issues on the basis of the general analysis, the use of the information collected to qualitative, summarized analysis, supplemented by both normative and empirical research methods, in-depth analysis of listed companies false disclosure of financial information and the superficial causes of the problem and propose a sound financial information disclosure of listed companies authenticity of the countermeasures and suggestions.By a total of four chapters composed ofIntroduction: the outset, stressed that the rapid development of the stock market, though, but in the development process there have been a lot of problems, the most serious of which is the listed company of false financial information disclosure. Further elaborated on the subject by the background and significance, the targets and scope of the research objectives, at home and abroad on the status quo, research methodology and innovation.Chapter 1: Corporate Disclosure in brief. This section describes the information disclosure of listed companies on the meaning of financial information disclosure requirements, as well as the quality and value orientation of the market effectiveness and financial information disclosure system, the relationship between the analysis, and disclosure of financial information system and the history of the existing system for reviewed and summed up.Chapter 2: the disclosure of financial information of listed companies authenticity of the legal standards. This section describes the information disclosure of listed companies authenticity of the legal criteria. Based on information in financial disclosure standards, as well as changes in the relationship of disclosure, the disclosure of information of the authenticity of the basic standards and reasonable, and thus determine what is the information disclosure of listed companies of authenticity.Chapter 3: authenticity of a listed company to disclose information system security. This chapter expands upon the information disclosure of listed companies authenticity system comparative study of how to protect the system from the information disclosure of listed companies authenticity, as well as how to improve the disclosure of financial information of listed companies authenticity of the internal and external governance mechanisms.Chapter 4: Governance of Listed Companies in China false financial information disclosed to ponder. This section describes the false information disclosure of listed companies Elements and false disclosure should bear the legal responsibility, demonstrated improve the relevant legal liability system and securities litigation civil compensation will be due to false information disclosure of listed companies and investors damaged by the application legal remedy.Conclusion: It is believed that to achieve a healthy and orderly development of the securities market and protect the information disclosure of listed companies authenticity, increase disclosure of information regulatory efforts, and improve the structure of corporate governance and securities litigation civil compensation is the key. At the same time still perfect, and complete relevant legislation, from the legal system of listed companies guarantee the authenticity of the disclosure of financial information to prevent the spread of false statements.