Chinese Listed Companies Voluntary Information Disclosure And Regulatory Research

With the development of China's market economy, the various circles of society have put forward higher requirements for the disclosure of information of the listed company. The mandatory disclosure that the listed company carried on already can't meet investors' diversified demands for information of the listed company. This impels listed companies reveal more and more voluntary information. Through voluntary disclosure of information, listed companies can not only improve the quality of information disclosure, reduce information asymmetry, improve the relationship with the investors, improve reputation and image of themselves, but also increase companies' value, reduce lawsuit costs and raising the key competitiveness of them. At present, the supervision and relevant research of voluntary information disclosure of the listed company are far from enough in China. After some studies, this text proposes some policies in order to improve the quality of voluntary information disclosure of Chinese listed company. This thesis has explained these contents from five parts as following:Part one: the theoretical foundation, domestic and international research document survey of voluntary information disclosure. In this part, the main point of this text and the background of relevant researches are put forward briefly at first. Secondly, the theoretical foundation of voluntary information disclosure is introduced, including the theoretical reasons. Moreover, domestic and international researches and research results of voluntary information disclosure are reviewed summarily. And finally, the research approaches and how the main contents of this thesis are presented.Part two: the definers of the concept of voluntary information disclosure, disclosing contents and disclosure drives. Among this part, mandatory disclosure of information and voluntary disclosure of information are compared with firstly. This makes us understand the definition of voluntary information disclosure clearly. Then the contents of voluntary information disclosure are described. Going on, this part compares the contents of voluntary information disclosure of listed companies in USA with in China. Finally, this text expounds the drives why listed companies voluntarily disclose information.Part three: measurement methods and government supervision to voluntary...