Empirical Research On Voluntary Accounting Information Disclosure Of Listed Companies In Our Country

Voluntary accounting information disclosure quality of listed companies for the healthy operation of the securities market transparency and has a positive effect. Since the accounting information disclosure of listed companies has experienced a dozen years, and its problems have gradually emerged, t his paper aims to identify some deficiencies listed companies in accounting information disclosure process, and explore the causes of these problems in order to find effective ways to improve the quality of disclosure. Situation poor level of voluntary accounting information disclosure of listed companies to bring a lot of adverse effects, not only increasing the cost of the company to raise funds, but also increased the investment risk for investors. Therefore, a comprehensive system of information disclos ure of listed companies to explore the existing problems, can have a positive role in improving the capital market operation mechanism, maintaining the listed company’s image and reduce the investment risks for investors and so on.Taking into account only the completion of most of the banks listed in 2007, of which C hina Everbright Bank and Agricultural Bank of C hina went public in 2010. Therefore, we collected annual data of 16 listed banks in four years between 2010-2013. Since the number of listed banks to adopt A + H shares listed model, this article only A-share banks annual data. All the data obtained from the China Securities Regulatory Commission website, databases and sharp thinking GTA database, and a cross-comparison between data, empirical studies use the same combination of factors specific analysis of the quality of information disclosure of listed companies and test disclosure. The efficient market hypothesis, information asymmetry theory, signaling theory and agency theory as the theoretical basis for research and analysis, drawing and foreign literature and the corresponding results, building evaluation system is suitable for checking the information disclosure of listed companies level. Select argument with company size, internal governance structure, financial situation, etc., through the establishment of multiple linear regression equation, and the use of measurement methods descriptive statistics, correlation and regression analysis, combined with empirical factors affecting depth. The study found: respect the scale, board size, capacity development banks and so have a significant impact on voluntary information disclosure. By results of the regression analysis, combined with the specific situation of China’s securities market, respectively, from strengthening information disclosure guidelines, perfect corporate voluntary information disclosure system, improve quality and improve the capital market investors, etc., to improve C hina’s listed companies are given points countermeasures and suggestions of information disclosure, with a view to future decisions on investment and stakeholder interests are helpful, while enhancing the efficient al ocation of capital market resources.