基于熵权系数法的上市公司信息披露质量评价研究

Research on Evaluating the Quality of Information Disclosure of Listed Companies Based on Entropy Coefficient Method

上市公司的信息披露质量,与证券市场健康发展、投资者权益保护等重要问题息息相关。本文在比较了深交所'信息披露考评专题'、KV度量法、盈余信息质量法等上市公司信息披露质量评价方法优劣的基础上,构建了上市公司信息披露质量的指标体系,并采用熵权系数法来对上市公司信息披露质量进行综合评价。通过对2015年深交所主板上市的深圳本地上市公司的实证检验,所构建的评价模型的有效性高于KV度量法及盈余信息度量法,具有良好的可行性和实用价值。

The quality of information disclosure of listed companies is closely related to the important issues such as the healthy development of securities market and the protection of investors’ rights and interests.Based on comparisons of the different evaluation methods on the information disclosure quality,such as'Information Disclosure Assessment',KV Measurement,Earnings Information Quality Law,the paper builds the quality index system,and uses entropy coefficient method to evaluate the quality of information disclosure of listed companies.The paper takes the Shenzhen listed companies listed on the Main Board of Shenzhen Stock Exchange in 2015 as the sample,and substitutes the relevant data into the designed scheme to validate the objectively and objectively actual effect.The validity of the verification results shows that the measure of the information disclosure quality of the listed companies constructed in this paper is more effective than the KV measurement method and the surplus information measurement method,and has strong feasibility and practical value.