Information Disclosure Involved In R&D Status Of Listed Companies

In the pattern of knowledge competition in twenty-first century, the only way to help existence and development of enterprise is improving competitiveness. And R&D is the right way to make it. Because of the increasing competitiveness, more and more enterprises have invested more and more in the R&D, which is a high input and high risk activity. So identifying the risks of R & D is directly related to whether the R&D can be implemented smoothly. With the development of securities market in our country, the professionalism and professional ethics of external stakeholders are improving continuously. They pay close attention to the disclosure of enterprise’s information, especially the R&D information. They expect to be able to accurately assess the enterprise by improving the information, so as to make an objective evaluation of the enterprise and make the right investment decisions. The happening of Chongqing brewery vaccine scandal gave a heavy blow to the capital market in China. But it is clear that, it exists problems in the information disclosure, especially the problems of R & D risk information disclosure. Therefore, it is necessary to make a research, and provide a reference in the future.This article intends to study the issue of disclosure of information in the R&D of the risk information. I select data in the annual report of listed companies and the internal control evaluation report from 2010 to 2014. I analyze the disclosure of R&D risk information of listed company after the Chongqing brewery vaccine scandal by type and industry classification. I find that there are problems that the single way to disclose the information, the rigid content, preferences and non coordination problems between disclosure and commercial secret protection. From the perspective of R&D risk information disclosure, I analyze Chongqing brewery vaccine scandal and find that Chongqing brewery has never disclosed any risk information in R & D activities. In view of the above problems, I put forward suggestions that the enterprises establish R&D risk information disclosure system and create an external environment for motivation.