Information Disclosure Involved In R&D Status Of Listed Companies

Technology is productivity. It is an important factor in enhancing comprehensivecompetitiveness of enterprises and promoting economic growth. For the needs of survivaland development, many companies have joined the ranks of the R&D investment. Alongwith the R&D competition pattern aggravating,the enterprise has been shifting a growingshare of its investment to the R&D investment and hope that the critical research anddevelopment makes the enterprise stands out, and quickly occupied the market. Investorsare so concerned about the R&D status, but the current status of information disclosure oflisted companies ’R&D in China is not optimistic. R&D process of information disclosurehas been a problem to the listed corporation, regulators, investors and other. Theevent“Vaccine” shocked the capital market. Facing the sudden disclosure disaster, manyinvestors are getting into trouble and they have nothing to do with it. Therefore, the writerconduct relevant research in order to provide a reference for future R&D process ofinformation disclosure.The main topics of this thesis are as follows:（1）Elaborate the research background,significance, current research status and research ideas and methods.(2)The paper mainlydiscusses the application of the research process of related theories, including the efficientmarket theory, asymmetric information theory, the knowledge of economics of regulation.(3)Manually collecting relevant data about the present situation of R&D process ofinformation disclosure of listed companies, and for R&D process of information disclosuretime, frequency, degree and way in details in this paper.(4)A detailed analysis was carriedout on the information disclosure of listed companies of dilemma, and analyze theregulators to investigate, and analyze the difficulty and deficiency of regulators.(5)Analyzes the eruption reason of Chongqing beer "vaccines"event and combining withregulatory, institutional investors, securities analysts, listed companies to explorerespectively.(6)Put forward the countermeasures of R&D process of informationdisclosure of our capital market, and put forward the idea of differential informationdisclosure.The innovation of this paper lies in: have a systematic study in the R&D process information disclosure firstly and combining with related theory for fundamental analysis;Explore Chongqing beer "vaccine" event in aspects of the regulatory, institutional investors,securities analysts and listed companies; Put forward the constructive suggestions of thedevelopment process of information disclosure; Put forward using differentiationdisclosure measures in R&D process of information disclosure.