Research On Timeliness Of Accounting Information Disclosure Of Listed Companies

There is a close relationship between the disclosure for annual reporting and the information quality. As one important part of system of accounting information quality character, the timeliness of accounting information disclosure has a close relationship with the equity of securities business, which has always been the focus of government department and scholars in many countries. This paper falls into two parts.The first part is focused on analysis of timeliness which is the main quality of periodical information disclosure of listed companies.(1)The basic theory about the timeliness of accounting information.(2)The action of timeliness on securities market.The second part is an empiric analysis. The paper which chooses the annual reporting data of listed companies from 2003 to 2005 analyses the timeliness of accounting information disclosure with price methods studies and CAR methods studies at the same time. This part focus as follows:(1) The description analysis of timeliness. By using the stylebook date, the paper describes the statistics of Reporting Lag, which shows that the timeliness of accounting information disclosure in not very good.(2) Analyzing with CAR methods studies. The paper establishes models by using Reporting Lag as variable, and scales changes of AR and CAR.(3) Analyzing with price methods studies. In order to reduce the infection of stocks dimensions, the paper uses two kind of model at the same time.