Intangible Assets Information Disclosure Research On GEM Listed Companies Of China

In the era of knowledge economy, competition among enterprises has gradually shifted from the traditional expansion and financial capital investments to the obtainment of intangible technology, human resources, customer satisfaction,the intangible assets has became an important part of the enterprises’ core competitiveness. Most of GEM listed companies are technology-intensive enterprises, these enterprises’ development need to rely on high-tech. Therefore, intangible assets have more important significance for the gem. However, because of the GEM market is not mature yet, imperfect information disclosure and the existing accounting system limitations and guidelines for disclosure of intangible assets leads to the relevance and reliability of information disclosure of intangible assets is not high. Only understand and measure the value of intangible assets correctly, standardize information disclosure of intangible assets and be reflected in the financial statements, it can better promote the development of the GEM market. Therefore, the study of currently intangible information disclosure of GEM listed companies has practical significance to strengthen our management of intangible assets.The main contents of information disclosure of intangible assets are divided into three parts. Firstly, to adapt to changes in the economic environment of knowledge economy era, the researchers summarized the definition on the basis of intangible assets of various countries, redefined intangible assets from the perspective of management, and the intangible assets, the enterprise incorporate culture, customer relations and other intangible assets will be incorporated into the scope. Secondly, the paper selects 355 listed companies as of the end of 2012 was listed on the GEM study sample to the 2009-2012 range for the time, descriptive statistical analysis, comparative analysis of intangible assets from the sample as a whole, the specific composition reasons for the situation and the disclosure forms are used to analyze from three aspects, intuitive status quo reveal the information disclosure of intangible assets GEM listed company, summarize the current information disclosure issue that existence of intangible assets of listed companies on the basis of that, and analysis these problems deeply. Finally, we recommend reforming the information disclosure of intangible assets of GEM listed company in accordance with the statistical analysis.Through the research, we draw the following conclusions. Firstly, through the analysis the discovery of the presence information disclosure of the intangible assets of GEM listed companies, there are still existent some issues: Disclosure of range is too narrow; the structure of the disclosure is irrational; the disclosure forms are not standardized; R & D expenses is unreasonable. Secondly, I think the reason why the information disclosure of China’s listed companies is imperfect due to the following reasons: Firstly, it is difficult to get the financial information reflected by financial report owing to the intangible assets is inherently uncertain, the second, current financial reporting model limits the disclosure of intangible information, and the third, a lack of motivation voluntary corporate disclosure and external regulatory laxity also led to imperfect information disclosure of intangible assets. Finally, based on the results of the analysis of Chinese companies listed on GEM intangible information disclosure, we believe that information disclosure of intangible assets in our future should be adopted towards the diversification of measurement attributes, color reporting mode, focus non-financial information and directions to disclose information sheet development. Under the guidance of reform direction, the paper puts forward some reform suggestions of information disclosure of listed companies: expanding the scope of the information disclosure of intangible assets of listed companies; improving the system of information disclosure of intangible assets; establishing a standardized information disclosure of intangible assets; gradually improving Fair value pricing environment; Strengthening external supervision of information disclosure of intangible assets.