An Relevant Study On Company Disclosure Quality

The securities market has the characteristics of information flow. Theinformation disclosure can reduce the degree of the securities markets withasymmetric information. So, the problem of information disclosure has beendomestic academic theory research hot spot and focus. For a long time, China’scapital market continuously strengthen the construction of the information disclosuresystem and improve the disclosure rules of listed companies. But the informationdisclosure of listed companies in our country there are still many problems at present,the quality of accounting information disclosure of listed companies remains to befurther improved. To find the factors affecting the quality of accounting informationdisclosure, in order to improve the quality of accounting information disclosure oflisted companies, is currently the parties need to solve the problem.This article main research content is the relationship between the company’scharacteristics and information disclosure quality. First of all, it is on the basis ofsummarizing the research status at home and abroad, to contact the present situationof the quality of information disclosure of listed companies in our country. It is onthe basis of relevant theories, adopt the method of quantitative research and set upordered Probit model. From the perspective of financial characteristics, developmentcharacteristic and market characteristics, Company characteristics and informationdisclosure of listed companies of our country has carried on the empirical research ofthe relativity of the quality.This article selects2008to2012, the shenzhen stock exchange data of a-sharelisted companies as research samples, propose ten assumptions, and establish theinterpreted and explaining variables, build ordered Probit model, respectively fromthe financial characteristics, development characteristics and market features threeangles to descriptive, correlation and regression analysis. Research and analysis ofChina’s listed company if there is a correlation characteristics and quality ofinformation disclosure and related degree. Empirical study conclusion shows that thelevel of information disclosure of listed companies in China from2008to2012areimproved obviously. From the perspective of financial characteristics, profitability,audit quality positively related to the quality of information disclosure, financial leverage, corporate losses last year is negatively related to the quality of informationdisclosure. From the perspective of development characteristics, the companygrowth positively related to the disclosure of information value, the volatility isnegatively related to the quality of information disclosure. From the perspective ofmarket, the listed company area, the lower the degree of marketization, theinformation disclosure evaluation for the possibility of a failed, the greater themonopoly industries or high barriers to entry in the industry is higher thancompetitive industries information disclosure quality, B and H shares of listedcompanies is better than not issued B and H shares with the quality of informationdisclosure. On the basis of in-depth analysis of the empirical conclusions, fromstrengthen creditors management, strengthen the "quality" of the company’ssupervision, strengthen corporate governance, promote the healthy development ofthe listed company itself, a sound system of information disclosure of listedcompanies, perfecting the information disclosure of listed company supervision andconstruct a scientific evaluation system for the quality of information disclosure ofsix aspects put forward countermeasures and Suggestions.