浅析证券市场的信息披露成本

Information Disclosure Costs in the Stock Market

效益大于成本原则是会计准则制定过程中的普遍性约束条件,根据这一原则,从微观角度看,会计信息披露成本包括直接成本和间接成本,直接成本是任何上市公司都不能避免的,而间接成本则表现为信息披露对上市公司的不利影响,很难准确计量。从宏观上看,信息披露成本是将所有的上市公司和信息使用者作为一个整体来考虑,因此,应加强法律制度的规定,规范强制笥披露,但对盈利预测、披露内部控制报表、经营计划等则应从实际出发,不应强制披露。

The principle of benefits are more than costs is the pervasive constraint in the accounting standard- setting processes. I analyze all kinds of direct casts and indirect costs of information disclosure from microscopic aspect. On the basis of microscopic analyses, I argue the information disclosure casts from microscopic aspect and considered how to cut down the casts from property - right theory. At last, several actual problems on information disclosure were discussed.