An Empirical Study On The Influencing Factors Of Voluntary Information Disclosure Of Listed Companies On

With the false information disclosure of listing Corporation in China’s case appears continuously, the listing Corporation and the relevant intermediary’s credibility has been severely affected, resulting in people disclosure and supervision efficiency doubts about listing Corporation information. Listing Corporation effective information disclosure system is a key factor that prevents the emergence of securities fraud, related to this two theories:Theory of voluntary disclosure and mandatory disclosure theory. In order to strengthen the supervision of listing Corporation information, Chinese CSRC has issued "on the improvement of the listing Corporation the quality of Financial Information Disclosure Notice" and "on further improving the quality of financial information notice" listing Corporation,"listing Corporation information disclosure work guidelines" and a series of regulations and measures to strengthen the listing Corporation information disclosure supervision.Factors affecting the domestic empirical research on voluntary disclosure of information is heavier than the test on the voluntary disclosure of information, lack of in-depth interpretation. The voluntary disclosure of information the need for regulation of fraud, on the disclosure of the contents and form of a certain specification is self-evident, how to guide, encourage listing Corporation to voluntary disclosure complete, reliable information at this stage has a more important significance. Disclosure behavior can not only help us to better understand the listing Corporation, but also can provide certain reference for the securities regulatory departments policy.As of December 31,2014, China’s Shengzhen stock exchange GEM Listing Corporation 406 homes. High tech enterprises listed on GEM Listing Corporation in information, biology and new material technology represented mainly has the characteristics of growth and innovation. The high growth of gem enterprises mainly manifests for the nonlinear growth rules, so it is difficult to in accordance with the single method, on the growth of the judgment is one of the difficulties in the gem investment.Because of the gem as a new thing in our country the construction of multi-level capital market system, the natural problems more.Based on the above background, studied China’s GEM Listing Corporation the level of voluntary information disclosure of the factors influence on May, mainly in order to improve China’s GEM Listing Corporation of voluntary information disclosure level. Based on the research on voluntary disclosure of information theory research results, adopting the analysis method of comparative study,qualitative and quantitative analysis, empirical test and statistics software, on the gem in China listing Corporation how to better carry forward the corresponding suggestions of voluntary information disclosure.