我国上市公司虚假陈述行为价值效应分析

Analysis of the value effect of listed companies′ fraudulent financing reporting

虽然当前我国启动虚假陈述损害赔偿机制,对于提高公司质量信号传递功能具有十分重要的意义,但从目前的市场反应情况等方面来看,虚假陈述公司的处罚价值影响有限,股东民事赔偿还有诸多障碍,最高法院在虚假陈述民事责任的认定与损失赔偿等方面的规定上还需要进一步细化、完善。

Although the startup of the fraudulent financing reporting damage compensation mechanism has its important meaning on improving the transferring function of company＇s quality signal,the value effect of Fraudulent financing reporting of company＇s punishment is limited. The shareholders＇ civil compensation has many obstacles. The Supreme people＇s Court has to make it particular and perfect on the civil liability cognizance and the compensation of the fraudulent financing reporting.