Public Company Accounting Information Disclosure

Information Disclosure (ID) is the core of Securities Market, and its present low quality has impeded the efficiency of capital resources allocation greatly. Hence solving the problems existing in ID and improving its quality has great meanings.The paper analyzes ID System by the economics theories of Supply-Demand and Property-Right, articulates the impact factors of accounting information supply-demand and roots of counterfeiting accounting information.According to the study of survey data, the paper points out that the present main quality problems existing in ID are lack of reliability and understandability. Unreliability results from the invalid corporate governance, from the CPA lacking audit independence and from the low cost of counterfeiting accounting information. Shortness of understandability derives form the over-professionalization in ID and from the investors' poor ability to use it.To solve the unreliability problem, the paper offers 5 suggestions: First, take the present shareholders as object, price the state owned stock based on the net assets value, gradually reduce it. Second, circulate all the fresh listed stock. Third, establish and perfect the civil responsibility of counterfeiting information. Fourth, cultivate the monopoly market structure. Fifth, build the reputation system.To solve the shortness of understandability, the paper presents 3 suggestions: First, cultivate the authoritative security research institute. Second, ameliorate the ID form. Third, widespread the application of internet to the ID.