无形资产的自愿信息披露和公司治理的实证研究——以中国高科技上市公司为例

Voluntary disclosure of information of intangibles and corporate governance: an empirical analysis of China's high-technology companies

针对中国上市公司整体自愿信息披露水平尚低的现状和无形资产的披露特点,选取9 5家高科技上市公司作为样本研究企业对无形资产的自愿信息披露水平与公司治理之间的关系,结果表明,高科技上市公司对于无形资产的自愿信息披露的确受某些特定系统性因素的影响,其中,一些因素与影响发达资本市场公司自愿信息披露的因素和已被证明的影响中国资本市场信息披露的因素相重叠,但也有一些因素的影响效果甚微甚至几乎没有影响。

According to the low extent of the disclosure of information in all the listed companies in China and the characteristics of intangibles,this paper chooses 95 listed high-technology companies as samples to study the relationship between the extent of voluntary disclosure of information and the corporate governance.The results of the sample analysis have confirmed part of the expectations.The voluntary disclosure of information in high-technology companies is subject to certain systematic influences.Some determinants of such disclosures overlap those found to influence voluntary disclosure practices of companies in developed economies and in China's capital market.There are also some factors having little influence or no influence.