信息披露质量、财务重述与公司价值

Quality of Information Disclosure,Financial Restatement and Company Value

以2010-2014年153家深交所创业板的上市公司为样本,研究信息披露质量、财务重述与公司价值之间的关系。研究结果表明,信息披露质量与公司价值显著正相关,财务重述与公司价值显著负相关。信息披露质量的提高,扭转了财务重述对公司价值负面效应的影响。财务重述成为提高财务信息透明度、信息披露质量的重要举措。

Based on the data of 153 the Shenzhen Stock Exchange GEM listed companies in the years of 2010-2014, this paper studies the relationship between the quality of information disclosure, the financial restatement and company value.The results show that the quality of information disclosure is positively related to the company value, and the significant negative correlation between the financial restatement and company value. With the improvement of the quality of information disclosure, the effect of financial restatement on the company value is reversed. Moreover, financial restatement is an important measure to improve the transparency of financial information and the quality of information disclosure.