Research On The Quality Of Information Disclosure Of Listing Corporation In China

At present, China's capital market is rapidly into the share reform era, the information disclosure of listed companies has become increasingly specification. But we still see during the process of information disclosure of listed companies, there is a system is not sound, the disclosure of the operation is not standard and quality improve pertinence is not strong. On financial information at the same time, there are a lot of irregularities, delay disclosure, major omissions and false statement in different degree, also affect the normal operation of securities market. How to summarize problem of information disclosure of listed companies in our country, clear the influencing factors, and further put forward the corresponding countermeasure, thus improving the quality of information disclosure of listed companies in our country has become the research hot spot. Although many experts and scholars at home and abroad have actively put forward all kinds of effective measures to improve the quality of information disclosure of listed companies, but since there is no accurate find the influence factors of affecting the quality of information disclosure, therefore, puts forward the countermeasures of pertinence is not strong. Therefore, accurate and effective to find the factors affecting the quality of information disclosure of listed companies in our country, clear the factors impact on the quality of information disclosure mechanism, put forward countermeasures with pertinence, which is beneficial to further to effectively regulate information disclosure of listed companies, improve quality, maintaining the order of capital market.Based on the principal-agent theory, signaling theory and social responsibility theory as the theoretical foundation, to our country listed company information disclosure quality improvement as the research direction, the system analysis of the current situation of information disclosure quality of listed companies in our country, has been clear about the problems, reasons and influencing factors, and for the quality of information disclosure of listed companies in our country promote development put forward the concrete strategy.Through research, the author got the following conclusions:first, we have seen in the process of information disclosure of listed companies, information disclosure enough complete, information disclosure is not real, and serious fraud, information disclosure is not standard, information disclosure is not fair, information disclosure has a strong selectivity, such problems as lack of seriousness, this is mainly due to the listed company's own internal causes, penalty system is not perfect, enterprise staff work attitude, and caused by the lack of corresponding measures; Second, through the influence factors and the quality of information disclosure of listed companies do multiple linear regression analysis, found that the scale of the enterprise and the information disclosure is not completely positive correlation between; The financial condition of enterprises and a positive relationship between information disclosure of listed companies; Environmental sensitivity high company will disclose the higher quality of information; Nature of equity and information disclosure quality is positively correlated relationship; Cash flow conditions affect corporate disclosure quality; The size of the audit unit affects the quality of information disclosure of listed companies. Third, we must improve the existing system of information disclosure, at the same time for state-owned holding enterprises, market occupies a dominant role in Chinese economy, the investment in social responsibility and disclosure, to play an exemplary and leading role effectively, makes the model for private listed companies. In addition, the heavy pollution in waste water, waste, and type of industry waste gas to the environment and society has a very big damage, its social responsibility more, therefore, must want to do a good job in supervision; Fourth, from the Angle of audit and its improving the quality of information disclosure of listed companies. The independence of the audit work unit is engaged in the key elements of audit work, must enhance the independence of the audit unit, at the same time establish the material cost of the system database. Is the body of the information disclosure of listed companies, also want to realize the importance of information disclosure, improve the financial situation, optimization of the internal functions and perfect supporting system from several aspects to improve the quality of information disclosure.