自愿性信息披露均衡机制探析

Voluntary Disclosure of Information of a Balanced Mechanism

拥有私人信息的公司管理层,根据其报酬与业绩之间的敏感性水平,产生了不同的自愿性信息披露动机,在一定的金融微观市场结构条件下,公司管理层的自愿性信息披露均衡处于从完全披露到部分披露再到不披露的动态过程。

The ownership of private information of the company＇s management, according to their performance and reward between the level of sensitivity, had a different motive of the voluntary disclosure of information in a micro-financial market structure conditions, the voluntary nature of the company＇s management information From the balance in full disclosure to the disclosure of non-disclosure and then to disclose some of the dynamic process.