A Research On The Influence Of Board Characteristics On Quality Of Information Disclosure In The Gem Listed Companies

The healthy development of capital market is dependent on the information filled with liquid, company managers disclosure the full of accounting information and good news, look to attract the attention of investors and investment funds, investors search and effective information in a variety of information, carries on the reasonable judgment, and then make the right investment decisions, avoid the waste of resources. Therefore, full disclosure of accounting information disclosure not only can weaken the information asymmetry between investors and managers, but also can improve the allocation efficiency of capital market. Nowadays, The information disclosure regime still exists many problems of our state, and we should improve the quality of accounting information disclosure of the listed companies. How to strengthen the corporate disclosure quality, and reduce the financial fraud is a hot topic of the current domestic and foreign scholars study. In terms of corporate governance, scholars’study more and more deeply, in order to find a way to solve the problem. Consummate corporate governance is the basis of improve the quality of information disclosure, the quality of the information disclosure is not only related to financial accounting, but also is one of important steps in the process of corporate governance. And the board of directors is the core of the kernel company governance mechanism of internal institution, is to ensure the quality of information disclosure obligation. The growth enterprise market as a financing platform of emerging enterprises and small and medium-sized enterprises in our country develop and expand the capital market in our country. However, the growth enterprise market of the information disclosure quality still needs to be further improved. So study the influence of board characteristics on information disclosure quality has a certain theoretical significance and realistic meaning.Refer to the existing literature achievement at home and abroad, this paper on the principal-agent theory, signaling theory, resource dependence theory, on the basis of the analysis of the combination with the current characteristics of the gem board of directors of the listed company in China, put forward hypothesis and establish the logistic model to empirical research, the selection of the Shenzhen stock exchange in 2012-2014 the gem listed companies as research samples, the board of directors of the research characteristics of the impact on the quality of information disclosure. The results showed that:in the gem listed companies, (1) the proportion of women directors is helpful to improve the quality of information disclosure. (2) The independent directors’ proportion is not conducive to improve the quality of information disclosure. (3) Chairman and general manager whether the joining together of two position is not related with quality of information disclosure. (4) The number of the board of directors is not conducive to improve the quality of information disclosure.