Research On Related Questions In Influencing Voluntary Disclosure In Profit Forecast Of Chinese IPO Listed Companies

With the rapid development of China's security market, the internationalization and normalized degree of the stock market are improving gradually. The importance of information on China's stock market is particularly prominent. It is not only having direct influence on investors'avails, but also directly related to the development of the securities market health status. Accounting information is one of the important basises for decision-making. As voluntary disclosure of listed companies is an important part of security market ,it has been paid close attention to by listed companies and investors.The information disclosure of initial public offerings is an important aspect,in which ,profit forecast is the focal point that a lot of investors show solicitude for. But in our country, among IPO listed companies, majority unwillingly disclose the information of their profit forecast.The article is exactly from this angle,adopting the Standard and empirical methods , attempts to prove from various aspects to find the influencing factors.This article begins with the elementary theories of disclosure of financial information, then proceed to the next step comparing the patterns and characteristics of the two basic kind of information disclosure.Expound China's profit disclosure system and it's background,meanwhile, analyse the agents of china's IPO listed companies voluntarily disclose their information. On the basis of Summarizing the primary factors affecting IPO listed companies voluntarily disclose their information , use the Logistic regression model to process the sampled data, analyse the factors affecting the IPO listed Corporation voluntarily disclose their profit forecast information. The result indicated that similar with the overseas research conclusion, China's IPO listed companies'voluntary disclosure level are being related with the property scale, the independent director proportion, the net assets returns ratio. they present varying degree of the significance influencing the explanatory variable. What contradicts with the research supposition, is that the audit expense has inverse correlation with the explanatory variable. Although the variables'Coefficient signs of stockholder's rights concentration degree, the proportion of manager's owning stocks ,having foreign capital or none , are consistent with the supposition, but its influence is not remarkable.Finally, in the foundations which are analyzed above, it is proposed that we should find the efficient method to Standardize the profit forecast disclosure , enhance the listed companies'forecast information quality, protect the information user's legitimate rights and interests fully, and enhance the stock market to be more efficiency,Hope these can provide references to China's profit forecast system's construction and consummation.