Font Size: a A A

Is There A Regional Difference In The Quality Of Information Disclosure Of Listed Companies In China? Th

Posted on:2017-03-16Degree:MasterType:Thesis
Country:ChinaCandidate:K YangFull Text:PDF
GTID:2209330485466127Subject:National Economics
Abstract/Summary:PDF Full Text Request
Economic Imbalance exsits within different regions of China, which has great influences on information disclosure of listed companies. Through analyzing the data of information disclosure’s quality assessment of listed companies in Shenzhen Stock Exchange during 2010-2014,We find that information disclosure’s quality of listed companies in eastern areas(especially the Bohai rim around Beijing and Tianjin, the Yangtze River Delta and the Pearl River Delta) is obviously superior to that in middle and western inland areas.Synthetically summarizing the literature about information disclosure’s quality of listed companies in home and abroad, We conclude that the degree of development of marketization, external governance environment, the degree of agglomeration of financial resources, commercial credit environment are significant variables influencing information disclosure’s quality of listed companies in different regions of China. Through analysing “comprehensive competitiveness of urban economy” index in “China City Competitiveness Report”, “Strength of financial institutions” index in “China Financial Center index”, “commercial credit environment” index in “China city commercial credit environment index” and using K-Means Clustering algorithm, we find significant differences in external governance environment among 20 financial centers, which means external governance environment in first-tier cities and Nanjing is obviously superior to that in inland cities, such as Fuzhou, Urumqi, Kunming, Xi’an. Then we use the outcome of K-Means clustering algorithm as the independent variable in later chapters and examine the relationship between the independent variable and the quality of information disclosure.、The logistic empirical results show that information disclosure’s quality of the listed companies in cities with higher degree of development of marketization is better, and the result is same in cites with higher degree of agglomeration of financial resources and commercial credit environment. Therefore, the municipal government should strive to enhance its economic comprehensive competitiveness, foster the development of financial institutions, create a better business environment for credit market, and the provincial government and central government should make efforts to coordinate economic imbalance between cities, which will improve information disclosure’s quality of the capital market and ultimately promote the overall development of the economy.
Keywords/Search Tags:Information Disclosure, External Governance Environment, Region Distribution Characteristics
PDF Full Text Request
Related items