Research On The Authenticity Of Information Disclosure For Listed Companies In China

Information may be the core of Stock market. Along with the coming and developing of informationization time, the securities business grows up. As an important way of management, information disclosure comes to be the key aspect for the health of stock market.Now there is a surveillance system which includes the Chinese Securities Supervisory Association as core, together with autonomy organizations, investors, facilitating agencies and mass media. An integrated system of Surveillance and Information disclosure has formed. The Chinese Securities Supervisory Association augment the amount and strength of punish these years. Actually, the securities business in China is still a market which called "news style and Reforming" market. As well as the system of surveillance and information disclosure is juvenile. That makes the Practical significance of this research.This paper used both qualitative and quota methods, researched status of authenticity and the cause of distortion through logic analysis, case analysis and empirical analysis, and put forward the corresponding policy proposal.The 1st chapter introduced the selected topic background and the significance, the object of study, the research technique, the article innovation and the insufficiency and the article structure. The second chapter listed the theories of information disclosure. The third chapter analysis the present situation, such as the quantity and type of distortion from 2001 to 2009 in the securities business in china. The fourth chapter analysis the cause of distortion form both Internal angle and exterior angle, find the exceeds returns ratio of the company when the day the punishment announced from 2002 to 2009. Thus judgment the effect and validity of the punishment. The fifth chapter put forward the policy proposal from the listed companies, facilitating agencies and the supervision organization angle.