An Empirical Research On The Effect Of The Board Secretary’s Characteristics On Information Disclosure Quality

Secretary of the board of directors responsible for the company’s information disclosure of foreign matters,as well as responsible for the preparation of the general meeting of shareholders and the board of directors meeting, and preservation of documents,management shareholders of the company’s information,and should be responsible for the board of directors.For the secretary of the board of directors,the most direct effect on the corporate governance is information disclosure.As a "window" to communicate with the outside world,its importance has been widely valued by society.The implementation of China’s new "company law"in 2006,the first time, we established the executive position of secretary of the board of directors from the legal level,since then,scholars pay more and more attention to problems of secretary and information disclosure,and related researches are increasing.The purpose of this paper is to study the role of the board secretary of the listing Corporation information disclosure quality.After the review on the domestic and foreign related research results,this paper puts forward some assumptions and the research model. In this paper,based on the listed company data of Shenzhen Stock Exchange from 2009 to 2013 on the main board,and using the methods of descriptive statistics and regression analysis for this paper. This article chooses the board secretary’s tenure,education level,awareness,salary conditions, shareholdings and part-time situations as explanatory variables,information disclosure quality as explained variables,and make research on relation between personality of secretary of the board and information disclosure quality.This article are based on data from Shenzhen Stock Exchange website and the CSMAR database of Guotaian service center.Statistical tool selected Stata and Excel.Regression method mainly used is the multivariate ordinal Logit regression.In this paper,through the empirical research results showed that:(1)From 2009 to 2013,China’s listing Corporation have been improving information disclosure quality continuously.(2)The characteristics of the board secretary group in China are high educations.high salaries,part-time phenomenons exist generally and high turnover rate.(3)The compensation,sharehold and reputation are significantly positivly related to the information disclosure quality.While the working time,education level and part-time job have no significant effect on the quality of information disclosure.