摘要
信息保密通过影响信息的公开程度对资本市场产生重要影响。信息保密制度作为资本市场会计监管的重要组成部分,有助于保护交易双方利益和促进资本市场效率,但也会因其内在的缺陷性而导致资本市场效率的缺损,因此如何完善信息保密制度并有效协调其与信息披露的关系是资本市场尤待解决的问题。本文拟全面探讨信息保密的本质、动机、内容、经济后果以及监管策略等,以便投资者能更好理解上市公司的信息披露行为,并为监管部门进一步完善信息保密制度提供建议。同时我们认为,建立信息保密的公示制度并发挥媒体的监督作用,是规范上市公司信息保密行为必须采取的措施。
Information secrecy plays an important role in the capital market as it deeply affects the quantity and quality of public information in the market.As a significant regulation measure ,information secrecy system can help to protect the interests of both pasties in security exchanges on the one hand,however,it also may lead to market efficiency loss due to its inherent defeat on the other hand .Therefore,it becomes an urgent problem that we should take step to perfect the information secrecy system and harmonize the conflict between information disclosure and secrecy.This paper discusses the essence,motivation,content,and economic consequence of information secrecy,and its affect on information disclosure,for the sake of lifting up the veil of information secrecy and push it out to the investors.In addition,we suggest that it is necessary for us to establish an information secrecy public system and make the supervision of the media into effect in order to solve the problem.
出处
《会计研究》
CSSCI
北大核心
2007年第5期25-30,共6页
Accounting Research
基金
国家社会科学基金青年项目<监管理论与上市公司信息披露策略研究>(批准号:05cjy007)的阶段性研究成果
