Research On The Impact Of Board Features On Security Information Disclosure In High Risk Listed Companies

Nowadays,the national economy is developing rapidly.As an economic organization,enterprises seek to maximize profits while gradually exposing hidden safety risks.The problem of safe production becomes more and more important.The high-risk industry is higher than other industries in terms of the level of risk and safety accidents.Therefore,people should pay more attention to safety production.Enterprises should regard safe production as the basis for continuous business operations,and form a consciousness in the mind that “there is no practical development for enterprises without safe production and escort”.To this end,companies need to increase their investment in safety production,and effectively put their inputs into practice.This can improve the company’s safety production capacity from the root and reduce the number of safety production accidents in the company as a whole.If there is input,there will be accounting,which will involve supervision and disclosure of relevant information.This requires listed companies in high-risk industries to strictly observe each level and actively disclose information related to safe production.This article first sorts out and summarizes the relevant literature on the disclosure of security information,the characteristics of the board of directors,the characteristics of the board of directors,and the disclosure of information at home and abroad,and takes the principal-agent theory,signal transmission theory,social responsibility theory and corporate governance theory as the theoretical basis,then selects high-risk industry listed companies that have information disclosure evaluation results in the Shenzhen Stock Exchange as research objects.Based on the 2012-2016 annual report data and the data of Guotai’an database,this paper analyzes the status quo of the board of directors of high-risk industries and the status of safety information disclosure in China.Through consulting the annual report of the sample company,the safety information disclosure index is constructed using the statistics and scores of the six safety production-related information disclosed in the annual report as a dependent variable.This article uses the relevant indicators that reflect the scale,independence,meeting times,motivation level,andacademic level of the board of directors as independent variables,uses the company’s scale,assets and liabilities,profitability,and ownership concentration as control variables to construct a multivariate linear regression model and carry out regression testing so as to deeply discuss the influence of board characteristics on the level of safety information disclosure to verify the research hypothesis proposed in this paper.The empirical results show that the scale of the board of directors and the incentive level of the board of directors can promote the improvement of the level of security information disclosure;The meeting times of the board of directors and the level of education of the board of directors are negatively correlated with the level of safety information disclosure,that is,it has an inhibitory effect on the level of disclosure of safety information;The independence of the board of directors is positively correlated with the level of security information disclosure,but the relationship is not significant.In general,the characteristics of the board of directors have an impact on the level of disclosure of safety information of listed companies in high-risk industries.Based on the empirical findings and the analysis of the status quo,it proposes policy suggestions that are conducive to raising the level of safety information disclosure in high-risk industries,and explains the deficiencies and future prospects of this study.