上市公司信息披露外文翻譯--一個(gè)自愿性信息披露與我國上市公司監(jiān)管問題的研究體系(已修改)
2025-06-01 17:57 本頁面
【正文】 A Study on the Supervision System with Voluntary Information Disclosure in Chinese Listed Companies Abstract The voluntary information of listed panies is based on corporate image, the investor relates, which is to avoid lawsuit risk besides the pulsory information disclosure. The information, which the panies disclosed on their own initiative, is the important part of disclosure information. It is an effective way that demonstrates their core petitive ability. The author analyzed the problems on voluntary information disclosed, which existed in Chinese mainland listed pany, proposed the suggestion of constructing supervision system which listed panies voluntary information to disclose. *Keywords: Listed panies, Compulsory information disclosure, Voluntary information disclosure, Supervision System As the expansion of the increase of the number of listed panies and the increasingly drastic market petition,the petition has bee more difficult in more and more listed panies. In order to catch the scarce resourcethe capital, panies tend to choose the way of Voluntary information Disclosure. Listed panies,with voluntary to disclose the information refers to corporate image, the investor relation, avoid lawsuit risk besides the pulsory information disclosure. However, the supervision system is not good enough。 the information disclosed voluntarily is hard to be proof the truth. Therefore, it bees more and more important to build the supervision system with voluntary information disclosure for listed panies. 1. Motivation of Compulsory information disclosure Information, the Voluntary disclosure, is the executives in listed panies on personnel benefit to disclose on own initiative. According to the economic theory of the economic man rationality, the superintendents balance the behavior and do not take, pletely based on the benefit and this behavior which is the costing. The superintendent’s decisionmaking is also based on the cost benefit analysis, if the voluntary information disclosure brings the benefit is larger than the cost, then the superintendent can carry on voluntarily disclosed, otherwise, the superintendent rather does not carry on the voluntary information to disclose, their manners will change with the cost ine relations changing. (Kai Xiang, 2020) With the China capital market gradually development, the business management authority can reduce the average capital cost, enhance the financial analyst and investor39。s interest, enhance pany confidence level, improve investment relations, stand out pany petitive advantages, enhance pany stocks market fluidity, but also may reduce the pany’s lawsuit risk ,because the disclosure is not enough and so on, by disclosing voluntary information besides the pulsory information disclosure. The China capital market information disclosure also can gradually move to the stage of paying equal attention to voluntary and pulsory disclosure, not the simply regarding of the pulsory disclosure, the voluntary information disclosure will certainly to be the effective way,by which listed panies can demonstrate the core petitive ability, municate with the stakeholders, and describe the pany future. (Xianzhong Song, 2020) 2. Content of Compulsory information disclosure Listed panies, with voluntary to disclose the information is refers to corporate image, the investor relates, avoid lawsuit risk except for the pulsory information disclosure. Learning from foreign listed panies’ experience of disclosing information voluntarily , and according to the situation in China, the listed panies voluntary disclosure of information include: The forwardlooking information, based on the pany39。s “core petence”. It contains the operation,the business plan, strategic planning, business environment and so on. All of information can help investors to make rational investment judgments and decisionmaking。 Information municated with the market intermediaries and investors or the evaluation information from them。 Information of human resources. Under the conditions of the knowledge economy society, human capitalbees more and more important. Part
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