Research On The Impact Of My Country's Listed Logistics Company Governance Structure On Voluntary Information Disclosure

Voluntary disclosure of information refers to the act of actively disclosing information to the public,in addition to the mandatory disclosure of information by listed companies.The main channels for disclosing information include the issuance of periodic reports,provisional announcements,pressing conferences,and private communication with institutional investors.The voluntary disclosure of information by listed companies is conducive to protecting the interests of investors,enhancing the transparency of the company's handling of affairs,establishing a good image of the company,and enhancing the company's core competitiveness.This article takes China's logistics listed companies as the research object,then I analyze and discusses the issue of voluntary disclosure of information.First of all,the article defines the meaning of voluntary disclosure of information and corporate governance structure.Then the article proposes the indicators about voluntary disclosure of information and constructs an evaluation index system for voluntary disclosure of information of China's logistics listed companies by combinning the development characteristics of the logistics industry and relevant legal provisions.Secondly,using the analytic hierarchy process to assign weights to various indicators,establish a comprehensive evaluation model for voluntary disclosure of information.It can calculate the voluntary information disclosure index(VDI),and quantify the level of voluntary disclosure of information.Thirdly,through relevant research results,The research presents 9 variables on corporate governance structure,and it includes:ownership concentration,proportion of shares outstanding,state-owned equity control,shareholding ratio of management,share of the two positions of chairman and general manager,proportion of independent directors,size of board of directors,number of board of supervisors,meeting of board of supervisors frequency.At the same time,the company's scale and asset-liability ratio were used as control variables to make research hypotheses.Using the data of 72 listed companies listed in 2012-2016 for empirical research,the article descriptive statistics,correlation analysis,and multiple linear regression analysis.Based on the test results,the impact of corporate governance structure on voluntary disclosure was analyzed.Finally,the study found that in addition to the equity concentration,the two positions of the chairman and the general manager are negatively correlated with the level of voluntary information disclosure,the proportion of other outstanding shares,the ratio of senior management holdings,the proportion of independent directors,the number of the board of supervisors,the board of supervisors The number of meetings was positively correlated with the level of voluntary disclosure;state-owned property holdings and the size of the board of directors had no significant effect on voluntary disclosure of information.Based on the existing problems in the governance structure and voluntary information disclosure of listed companies in China's logistics industry,this paper proposes seven targeted recommendations on improving the corporate governance structure and voluntary information disclosure mechanisms on the basis of empirical research,including:vigorously developing institutional investment.,improve the liquidity of equity,improve incentive and restraint mechanisms for senior executives,establish a two-position system for the chairman and general manager,improve the system of independent directors,attach importance to the role of the board of supervisors,and establish a voluntary mechanism for information disclosure to further improve the governance of China's logistics listed companies.Structure,so as to improve the level of voluntary information disclosure of China's logistics listed companies.