The Interaction Research Of The Quality Of Information Disclosure Based On Corporate Governance And Corporate Performance

The quality of information disclosure of listed companies directly related to the effectiveness of securities markets, investor protection and other important issues. However, China's securities market as an emerging market for non-standard information disclosure of listed companies and lack of information transparency. In our country, through a market mechanism and means, make a reasonable guide for information disclosure of listed companies, increase the effective supply of securities market information, improve the quality of information disclosure, and thereby improve corporate performance, has become the only way to the sustainable development of China's capital market. Research on the relationship between the quality of information disclosure of listed companies and corporate performance, for revealing the intrinsic correlation between the two, and improving the quality of corporate information disclosure, and optimizing the corporate governance, and improving corporate performance, which is an important theoretical value and practical significance.In this paper, firstly make a theoretical analysis of the relationship between corporate governance and information disclosure on the basis of the existing literature and practice, as well as the interactive relationship between the quality of information disclosure and corporate performance ,all of this establish a foundation for the hypothesis of empirical research; for the needs of research, this paper select a suitable sample, and find a reliable source of data; and then "the evaluation result of information disclosure" stands for the quality of information disclosure, ROE stands for corporate performance, considering the corporate governance and other financial control variables, and attention to the problem of endogenous variables, establish the simultaneous equations model; the interpretation of statistical results is based on one-way ANOVA, correlation analysis and regression analysis methods of statistical analysis; in order to enhance the persuasion, the paper also carried out robustness analysis; in the end , the paper came to the conclusion and put forward policy recommendations.The quality of disclosure information and corporate performance is a positive interactive correlation, the higher the quality of information disclosure, the higher the level of corporate performance; the higher the level of corporate performance, the higher the quality of information disclosure. The securities regulatory authorities should strengthen the supervision of the information disclosure of listed company, and promote the listed companies to timely, accurately and completely disclose information, and improve the level of corporate governance, and protect the interests of investors. In addition, the securities regulatory authorities and securities exchanges should coordinate to establish a complete "evaluation system of information disclosure", and establish the tracing supervision mechanisms of information disclosure for the listed company of lower level performance and even loss.In this paper, the research method includes normative study, empirical study and comparative study. The innovation is: to consider interactive relationship of the quality of information disclosure and corporate performance, set up the simultaneous equation, and research on the interaction between the two on the basis of endogenous variables.