Corporate Governance And Information Disclosure Of ChiNext Listed Companies

In this paper,the new definition of Corporate Governance is that it is a dynamic balanced complex system after the review of all others.By the corporate governance theory and modern company's development,there are five problems of shareholder governance、 director governance、 supervisor governance 、 manager governance、employee governance and complex governance.Then four ideas are discussed including the shareholder's meeting centralism、the director's board centralism、the manager centralism and the stakeholderism.All characteristic of five corporate governance types is explored in details for the dynamic trend.The theoretical basis of corporate governance include Economics、Law、Sociology、Politics、History、Ethics and Psychology were talked,then first with elaborating Theory of the Firm 、Transaction Cost Theory and the Agent Theory.Information Disclosure has entered the time of Compound and Dynamic Disclosure.After the review of Information Disclosure's theoretical basis & evaluation 、 world GEM history and Chi Next,all research on the relationship between corporate governance and information disclosure were summarized in details.The data of 492 Chi Next List Companies was selected for regression analysis by STATA13.Then the example of List Company Robot(300024)was analyzed on the data of annual report from 2010 to 2016.To get the conclusion of Chi Next is used for the basis of the future research on Corporate Governance Dynamic Balanced Theory.