自愿性信息披露法律规制研究

Research on Legal Regulation of Voluntary Information Disclosure

完善信息披露制度是有效监管证券市场的重要举措。自愿性信息披露是信息披露的组成部分,但是由于自愿性信息披露缺乏法律强制义务,所以理论研究中常常忽视自愿性信息披露的法律规制。目前我国上市公司在披露自愿性信息存在违规披露、诱导披露、模糊披露等损害投资者权益的行为。为此,我国应当在法律规范中明确自愿性信息的范围、制定披露文本的语言表达格式、完善披露的程序、对自愿性信息分类规范,以及制定安全港规则等。

It is an important measure for the effective supervision of the securities market to perfect the information disclosure system.As the voluntary information disclosure is part of information disclosure system and itself has the characteristic of non mandatory,it is always neglected by theory studies.Nowadays,listed corporations have damage behavior to the interests of investors by illegal disclosure of voluntary information disclosure,induced disclosure,vague disclosure.Therefore,to build a more effective voluntary information disclosure system,it should regulate the information expression,perfect the procedure of disclosure,divide the scope of voluntary information,and draft the safe-harbor rules of voluntary information disclosure.