Research On The Relationship Between Ownership Structure, Board Characteristics And Information Disclosure Quality

During these years,the disclosure system of our country's securities market has continued to improve,which also causes the level of information disclosure of our country's listed companies continue to improve.However,there are also some unhealthy phenomena that damage the quality of information disclosure in our country's economy operation,such as financial fraud between controllers,the account information manipulating,the false disclosure of account information and so on.This is not only pull down the overall disclosure of Listed Companies in China,but also a heavy blow to Chinese economy in the period of transformation and upgrading.On one hand,there is a close relationship between corporate governance structure and the quality of information disclosure,the ownership structure and board characteristics act as the core of the internal governance structure of the part,which also has a great effect on the quality of information disclosure in our country to a great extent;On the other hand,the high-quality of accounting information disclosure of listed companies will lead to the perfect improvement and optimization of the internal corporate company governance structure at the same time.All in all,we should attach great significance of theory and practice to the study,which is about the nexus among ownership structure,board characteristics and the quality of information disclosure of the listed companies in our country.In the basis of the empirical conclusion,sum up the basis of Innovative Selection of ownership structure,board characteristics as the key of the internal governance structure of the starting point,and make a further study between it and the quality of information disclosure.By choosing means of documentary research method andempirical analysis,analyze the ownership structure,the board of directors and the quality of information disclosure on the basis of relevance theory,choosing items from 2013 to 2015 in Shenzhen Stock Exchange of China listed on the main board and the disclosure of financial report of the A shares of the company as the research object,eliminating a few companies such as the ST class and some other related data that is not complete,which finally got 1317 valid data samples.Put the correlation between hypotheses and empirical research into test by constructing the Logistic empirical model of ownership structure,board characteristics and the quality of information disclosure.This research shows that:(1)In terms of ownership concentration,the ownership concentration of listed companies in our country and the quality of information disclosure is a positive correlation;(2)The company formed equity balance can inhibit the major shareholder of minority shareholders "tunneling" behavior,power balance with shareholder structure can promote the quality of information disclosure;(3)the chairman and general manager of the two level he will reduce the quality of information disclosure,should establish two level system respectively.At last,according to the summary of relevant theoretical basis and empirical analysis results,respectively from the listed company the equity concentration,the formation of effective equity balance,the establishment of the CEO and the board of directors are held not by the same person,are proposed to enhance the information disclosure of Listed Companies in China the quality of the suggestions and countermeasures.