The Research On Relations Between Listed Company’s Audit Committee Independence And Quality Of Information Disclosure

With the rapid development of China’s real economy, inherently requires a virtual economy also be synchronized before the trip. However, from the performance of the stock market in recent years, the virtual economy, which is regarded as the "barometer" of the real economy,did not play its due performance, but leading stock index fell below the bottom line, affecting the normal operation of the securities market order, making investors suffer a lot. And the reason has great relevance with the supervision of securities market. It’s not difficult to find that China’s stock market with lots of chaos over the years. Secret operations, information distortion, operating violations,"ones devour" and other incidents have occurred, seriously hurt the fundamental interests of the shareholders, but also led to the development of China’s stock market into vicious cycle. Events such as we just mentioned have a significant correlation with the defects of Audit Committee system,mainly exhibiting independence of Audit Committee.This vulnerability cause the place need to be supervised timely failed to be taken care, so that the original intention of setting up an Audit Committee failed to achieve. Based on this, it is necessary to conduct in-depth research on the listed company’s Audit Committee independence, hoping laying the foundation for the healthy development of China’s stock market.The study is divided into five parts. The first part is an introduction, describing the research background, significance, methods, ideas, content, as well as the research of Audit Committee independence of listed companies from home and abroad; The second part is the theoretical analysis of the independence of the Audit Committee, including the basic theory of corporate governance and agency, the independence of the Audit Committee influencing factors analysis, and analysis and hypothesis of Audit Committee independence and quality of information disclosure; The third part is the Empirical Analysis of the independence of the Audit Committee of Chinese listed companies, through the320listed companies samples A-share listed on the Shenzhen Stock Exchange with Audit Committee from the year2010to2012, including sample selection and data sources, analysis methods and variables measure analysis, and on this basis to build the final data analysis model; The fourth part is the empirical testing and results analysis based on the data model, mainly including descriptive statistics, correlation analysis and regression of analysis; The fifth part is policy recommendations and empirical summary of the results for the data analysis, According to the results of data analysis, we can find some problems related to the independence of the Audit Committee and thus we put forward some concrete solutions strategy, hoping to provide a good reference for the development of China’s stock market.