摘要
目前,我国创业板公司自愿性披露数量较少,流于形式的现象十分严重。设计自愿性信息披露程度指标,以分成22个行业均值的数据为样本实证检验影响创业板公司自愿性信息的披露程度及其影响因素。研究表明:创业板公司自愿信息披露程度不高;流通股比例、独立董事比例、董事会持股比例、股权集中度、"四大"审计和两职合一均与自愿性信息披露程度正相关;企业规模、营运能力和财务杠杆都与自愿性信息披露程度负相关;而作为具有创业板特征的、代表公司风险的单一账户风险与自愿性信息披露程度没有显著的相关性。
The phenomenon that voluntary information disclosure of listed companies on GEM is rare and a kind of formality seems very serious.This article established a set of voluntary disclosure level index system,and divided the samples into 22 industries and used the average of the industries as the research object to test voluntary information disclosure level and its influencing factors of GEM.The results shows that the voluntary disclosure of the listed companies on GEM is not high;there is a significant positive correlation between the proportion of tradable shares,the proportion of independent directors,board of directors shareholdings,ownership concentration,the four big audits,and a combination of two posts;there is a significant positive correlation between the company size,the operational capacity,financial leverage and voluntary information disclosure;As a feature of the GEM,the risk of a single account on behalf of the company voluntary disclosure risk and degree of impact is not significantly correlative.
出处
《审计与经济研究》
CSSCI
北大核心
2013年第2期68-78,共11页
Journal of Audit & Economics
关键词
创业板公司
自愿性信息披露
公司治理
公司财务
公司风险
信息披露制度
强制性披露
信息披露质量
growth enterprise market companies
voluntary information disclosure
corporate governance
corporate finance
corporate risk
information disclosure system
compulsory disclosure
information disclosure quality