Corporate Governance Of Listed Companies Publish Their Information

Corporate governance information disclosure in overseas has received more and more widespread attention from enterprise, investor and government. It is showed that good corporate governance information disclosure can enhance the listed company's transparency, promote the listed company's corporate governance; can better meet the information needs of investors; in addition, good corporate governance information disclosure may facilitate government department's surveillance and management, and maintain capital market develop stably and healthy.Since the establishment of the stock markets, the relevant departments have attached great importance to information disclosure, and have made corresponding rules to corporate governance information disclosure. In recent years, with the gradually complicated home and abroad financial market environment, Chinese supervisory department has enlarged supervision of listed company information disclosure, and has released a series of relevant policies. The theorists have also launched heated discussion and come up with all kinds of solutions. Through comprehensive survey research, however, it discovers the fact that both supervises and the academic field pay more attention to financial accounting information disclosure and information disclosure than to corporate governance information, and the research on corporate governance information disclosure is still insufficient.In order to fully and clearly display the corporate governance information disclosure of domestic listed companies, on the basis of defining the connotation and extension of corporate governance information, the paper uses stratified sampling method, chooses 104 annual reports of Shenzhen stock market's listed companies, which were disclosed in 2007 and divided into four grades, include excellent, good, pass and fail, as study samples. From timeliness, sufficiency and authentic three aspects, it mainly uses standard research, empirical study and comparative research method, to discuss the corporate governance information disclosure questions of listed companies.Through the analysis, it discovers that, (1) Most of listed companies tend to disclose its annual reports later. There are not many companies disclose its annual report timely. (2) There are some phenomena that some companies can not disclose corporate governance information truly. (3) The main problems are corporate governance information is disclosed inadequately. It is more than a mere formality, and the information content is not high. For these questions, from internal mechanism and the exterior mechanism two aspects, it discovers that non-concrete corporate governance information disclosure system, insufficient supervision, imperfect capital market mechanism, unreasonable stockholder's rights structure, and imperfect internal corporate governance structure make the corporate governance information disclosure non-perfect. Therefore, it proposes corresponding suggestions, such as enriching corporate governance information disclosure mechanism, strengthening government supervision, enhancing the stockholder's rights structure and perfecting internal corporate governance structure, to make them play positive role in enhancing corporate governance information disclosure level of listed companies.