中国上市公司核心竞争力信息披露:现状、问题与改进建议

Information Disclosure of Core Competence of Chinese Listed Companies:Current Situation,Problems and Suggestions for Improvement

提升企业核心竞争力是中国经济实现高质量发展的必然要求。近年来,企业信息使用者对核心竞争力等前瞻性信息的需求越来越强烈,据此本文通过文本分析法总结了我国上市公司核心竞争力信息披露现状及存在的问题。研究发现,自2012年证监会要求强制披露核心竞争力信息以来,上市公司核心竞争力信息披露呈现披露字数逐年增加、内容日趋丰富等特点,整体上值得肯定;但仍有少部分公司存在披露信息质量不高等问题。基于此,本文构建了中国上市公司年报核心竞争力披露概念框架,并在此基础上提出了改进建议,可供各方参考借鉴。本文不仅在理论上丰富了企业非结构化信息披露的规范性研究,而且也有利于企业信息披露实践的发展。

To enhance the core competence of enterprises is an inevitable requirement for China to achieve high-quality economic development.In recent years,the demand for forward-looking information such as core competence is becoming more and more intense for internal and external information users of firms.Based on this,this paper summarizes the current situation and existing problems of information disclosure of core competence in China through textual analysis.We find that since 2012,the China Securities Regulatory Commission(CSRC)required all listed companies to disclose the information on core competence,the disclosure of core competence information has shown the characteristics of increasing the number of words and increasingly rich content,which is worthy of affirmation on the whole.However,there are still a few companies with low quality of disclosure information.In order to solve the above issues,this paper constructs a conceptual framework of the information disclosure of core competence in Chinese listed companies’annual reports.Besides,on this basis,the paper puts forward some suggestions for the standardized information disclosure of core competence,which can be considered as reference.This paper not only enriches the normative research of enterprise’s unstructured information disclosure in theory,but also benefits the development of enterprise’s information disclosure practice.