信息披露:公平保护与成本考量——兼论“实质重要性”标准的认定

Information Disclosure:Justice Protection and Cost Consideration——Also on the the Confirmation of Materiality

在证券市场中,信息披露产生于交易公平的考虑,即为了保护投资者的利益,上市公司必须在一定的时间和一定范围之内公开自己的某些财务和业务信息。但基于成本的考虑,信息披露又应该有所节制。以"实质重要性"作为证券市场信息披露的标准,才会实现公平和成本的平衡。

In securities market,the reason of information disclosure is exchange justice,namely,listed company must publish financial and business information within the limited area publicly for the protection of investors.Yet,the disclosure of information shall be limited because of cost consideration.Materiality can balance the justice and cost as information disclosure standard in securities market.