Research On The Legal System Of Voluntary Information Disclosure

Information plays an important role in the capital market.Listed companies can attract investors by publishing their internal information to show their corporate image and core competitiveness.By analyzing the information released by listed companies,investors can make investment decisions quickly and accurately,which can reduce their investment risks to a certain extent.The active disclosure of information by listed companies can reduce the cost of information collection by regulators to a certain extent and improve the efficiency of supervision.At present,the fund boom has come,individual investors have poured into the fund market,up to the 50,60 years old old people down to the school students,buying funds has become the people,especially the young people’s biggest expenditure and interpersonal conversation,but there is a serious information asymmetry between the banker institutions.So that individual investors in the vagaries of the capital market at the beginning at a disadvantage.Voluntary information disclosure is the internal information that the listed company discloses independently.The listed company hopes to show a good corporate image,show its advanced management culture and competitiveness,and effectively alleviate the contradictions between it and stakeholders through the information disclosed.With the maturity of China’s capital market,more and more investors and other stakeholders have attached importance to voluntary information disclosure.Listed companies publish accurate and true information in real time,which can guarantee the authenticity of their stock prices to a certain extent and effectively reduce the bubble of virtual economy.It will help the capital market give full play to its function of allocating resources and improve the utilization rate of capital.Promote the stable and healthy development of the stock market.However,the voluntary information disclosure forms of China’s listed companies are less selective,the content is lacking and the quality of disclosure is highly arbitrary,and there are serious problems.In this paper,the basic theory of voluntary information disclosure,the status quo of voluntary information disclosure system in China,the existing problems and their causes,and the status quo of voluntary information disclosure system in foreign countries are fully elaborated based on the hot cases in recent years.On this basis,suggestions for rectification and improvement are put forward.