Due to the information asymmetry on the securities market, Chinese listed companies have incentives to disclose voluntarily. Mandatory disclosure and voluntary disclosure are both included in an effective information ...Due to the information asymmetry on the securities market, Chinese listed companies have incentives to disclose voluntarily. Mandatory disclosure and voluntary disclosure are both included in an effective information disclosure system. Mandatory disclosure is the basic demand of the market, and voluntary disclosure is the extended demand of the market, because of its informative complement to the timing, content and depth of disclosure. With the weakening of seller＇s market characteristic in China, the voluntary disclosure behavior in the listed companies has been greatly encouraged. This paper provides a statistical description of the status quo of the voluntary disclosure behavior in Chinese listed companies, and claims that the voluntary disclosure strategy guided by the investor relations management should be included in the corporate strategies.展开更多
文摘Due to the information asymmetry on the securities market, Chinese listed companies have incentives to disclose voluntarily. Mandatory disclosure and voluntary disclosure are both included in an effective information disclosure system. Mandatory disclosure is the basic demand of the market, and voluntary disclosure is the extended demand of the market, because of its informative complement to the timing, content and depth of disclosure. With the weakening of seller＇s market characteristic in China, the voluntary disclosure behavior in the listed companies has been greatly encouraged. This paper provides a statistical description of the status quo of the voluntary disclosure behavior in Chinese listed companies, and claims that the voluntary disclosure strategy guided by the investor relations management should be included in the corporate strategies.
