Font Size: a A A

Empirical Study On Voluntary Information Disclosure Of Listed Company In China

Posted on:2012-05-23Degree:MasterType:Thesis
Country:ChinaCandidate:C L YangFull Text:PDF
GTID:2249330362471680Subject:Accounting
Abstract/Summary:PDF Full Text Request
Accounting is based on economic management activities, and changing with thedevelopment of economy. True as well as reliable accounting information disclosureis necessary to the healthy development of the capital market. From the viewpoint ofcontrol, the accounting information disclosure is divided into mandatory disclosureand voluntary disclosure. Voluntary information disclosure is the initiative disclosureof listed companies in the securities market. It is also the inevitable result of socialand economic development.According to the principal-agent theory, information rent as well as asymmetrytheory, the signal transmission theory, efficient market theory, the listed companiesactively disclose non-mandatory information in order to reduce agency costs. It canalso make use of the advantage of information, transfer favorable market signals toreduce Information asymmetry, promote stocks more accurately reflect the companyvalue as well as improve the efficiency of the capital market. In practice, theincreasing of the quantity and quality of voluntary disclosure helps to improve thecompany’s core competitiveness, promote the enterprise image, maintain betterinvestor relations, and promote the healthy development of company.The paper refers to comparable mature research results at home and abroad, andaims to discuss how to improve the voluntary disclosure level. The paper defines theconcept of voluntary disclosure, expounds the theoretical basis of voluntary disclosureand combined with information deviation theory to reveal the voluntary disclosuremotivations and influencing factors. We analyze the present situation of voluntarydisclosure and other relevant problems, research the relationship between thecompany governance and voluntary disclosure, put forward some suggestions toenhance the level of the voluntary disclosure in China.
Keywords/Search Tags:voluntary information disclosure, mandatory information disclosure, corporate governance, relevance
PDF Full Text Request
Related items