我国上市公司会计信息披露质量问题研究
|
摘要
当今社会是一个信息高速发展的时代,会计信息是连接上市公司和证券市场的纽带和桥梁,上市公司会计信息披露质量将直接影响信息使用者的决策和我国资本市场的发展。会计信息披露是会计信息使用者了解上市公司,证券监管机构监督和审查上市公司的主要信息来源,高质量的上市公司会计信息披露有利于保障会计信息使用者的合法权益,是证券市场健康发展的基础。近年来,上市公司会计信息披露质量问题已成为了证券市场无法回避的问题,我国及世界其他国家上市公司信息披露违规案例不断发生,从蓝田股份、银广夏造假案,再到安然、世通公司丑闻等一系列事件,人们对上市公司披露的会计信息的可信性产生了严重质疑,因而也引发了人们对上市公司会计信息、披露质量问题的思考,上市公司会计信息披露质量问题已经逐步成为人们关注和研究的热点问题。
我国证券市场与发达国家相比起步较晚,自20世纪90年代上海、深圳证券交易所的相继成立,我国上市公司才开始正式对外披露会计信息。经过了近二十年的发展,我国上市公司会计信息披露制度从无到有,从不健全到健全,在规范上市公司会计信息披露行为、保护投资者利益和保障资本市场的健康发展等方面都起到了积极的作用。但同时我们也应充分认识到,我国上市公司会计信息披露无论是在制度建设方面,还是在具体执行方面,均存在许多不足之处。
近年来,我国已逐步形成了以《证券法》为中心、以一系列相关法律、法规为补充的信息披露体系,借以规范我国上市公司的会计信息披露行为,并建立起了相对完善的上市公司会计信息披露监管审查制度。但由于制度的不健全、上市公司内部结构不合理、信息披露自愿性不高、监管审查力度不够等多方面原因,上市公司在会计信息披露过程中仍然存在着信息披露不真实准确、不充分完整、不及时等许多信息披露质量问题,上市公司会计信息造假的情况也屡见不鲜。因此,如何提高我国上市公司会计信息披露质量,已成为我们迫切需要解决的问题。所以,应该对我国上市公司会计信息披露质量问题进行深入的分析研究,找出我国上市公司会计信息披露存在的问题以及导致问题产生的主要原因,从而找出改进对策以提高我国上市公司会计信息披露质量,保障我国证券市场,乃至整个资本市场的健康发展。
本文针对如何提高我国上市公司会计信息披露质量这一热点问题,在阅读大量相关文献的基础上,进行了较为深入的研究分析。首先,明确文章的研究背景、研究意义、国内外的研究现状、研究内容及研究方法。然后,介绍了会计信息披露的相关情况和理论基础,为全文提供有力的理论支撑。论文的第三部分对我国上市公司信息披露的现状进行了分析。本文的核心是第四部分和第五部分。在论文的第四部分,介绍了导致我国上市公司会计信息披露问题产生的原因。论文结合了我国上市公司会计信息披露的相关案例,对我国上市公司信息披露质量问题产生的主要原因进行了深入分析。论文第五部分针对第四部分分析的导致上市公司会计信息披露质量问题产生的原因,从健全会计信息披露规范体系、完善公司法人治理结构、提高上市公司信息披露自愿性、加强对上市公司会计信息披露的监管几个角度提出了规范我国上市公司会计信息披露质量的相关对策。
In today's age of information, disclosure of information is listed on the external connection listed companies and the securities market of the bridge and link, and disclosure quality will directly affect the information the consumer's decision and the development of China's capital market. Disclosure of accounting information, refer to the relevant laws and regulations, the financial condition and operating results and other relevant information to the report of the securities regulatory authorities, and to the public announcement of a behavior. Accounting information disclosure is the primary means of investors understand the listed companies and the securities regulatory body monitor the listed companies. Information disclosure is the basis for the healthy development of securities market. Therefore, improving the quality of accounting information disclosure can help protect the users of accounting information for the legitimate rights and interests, maintaining effective functioning of securities markets. In recent years, distortion of information disclosure has become an unavoidable issue in securities markets. China and other countries, listed information disclosure violations continue to occur. From Lan Tian, Guangxia frauds case, Enron, Shi Tong scandals, people on the credibility of corporate disclosure had questioned sparked the quality of information disclosure in-depth thinking. The quality of accounting information disclosure of listed companies issue has gradually become a hot issue.
The development of China's securities market late compared with developed countries, since 1990s, Shanghai and Shenzhen Stock Exchange have been established, our company began formal disclosed accounting information. After the ten years of development, Chinese public company information disclosure system from scratch and never sound to the sound, to regulate corporate disclosure and protection of investors'interests and protect the development of capital markets are playing a positive role. But we should also be a clear understanding that our corporate disclosure either from the system, or from the specific implementation, there are insufficient.
In recent years, China has gradually formed a securities law as a Center, a series of related laws and regulations of complementary information disclosure system that serve to standardize corporate disclosure principle requirements and content of the system, and the establishment of corporate disclosure Regulation review system. But because of the internal structure of listed companies, inadequate regulatory review, penalties are insufficient, and many other reasons, in the disclosure process there are still exist information disclosed is untrue, not timely, inadequate and many other information disclosure violations, false accounting information always happen.. Therefore, how to improve the quality of accounting information disclosure, and how to protect the disclosure of accounting information true and accurate has become an urgent problem to be solved. Therefore, we should be analysis and research the quality of corporate disclosure in China, identify our accounting information disclosure problems and the main reason, in order to constantly improve our quality of accounting information disclosure, to protect our country's stock market and the effective operation of the capital market.
This article on how to improve the quality of accounting information disclosure, read a lot on the basis of the relevant literature, conducting a more in-depth study. First, the article introduces the research background, significance, status and research methods. Then, introduced the relevant concepts and theoretical foundation of accounting information disclosure for provide strong theoretical support. In the third part, the status and problems of the information disclosure of listed companies in China were analyzed. The fourth and the fifth part are the core of this article. In the fourth part, describes the impact of accounting information for listed companies in China. Thesis combines the relevant cases of accounting information disclosure, in-depth analysis of the main reason of poor quality of the listed company information disclosure. The fifth part has the response to the fourth part of the analysis of the reasons lead accounting information disclosure's quality poor, proposing the relevant countermeasures in various perspectives form improving the standard system of accounting information disclosure, improving corporate governance structure, improving the voluntary nature of accounting disclosure and strengthen supervision of accounting information disclosure.
我国证券市场与发达国家相比起步较晚,自20世纪90年代上海、深圳证券交易所的相继成立,我国上市公司才开始正式对外披露会计信息。经过了近二十年的发展,我国上市公司会计信息披露制度从无到有,从不健全到健全,在规范上市公司会计信息披露行为、保护投资者利益和保障资本市场的健康发展等方面都起到了积极的作用。但同时我们也应充分认识到,我国上市公司会计信息披露无论是在制度建设方面,还是在具体执行方面,均存在许多不足之处。
近年来,我国已逐步形成了以《证券法》为中心、以一系列相关法律、法规为补充的信息披露体系,借以规范我国上市公司的会计信息披露行为,并建立起了相对完善的上市公司会计信息披露监管审查制度。但由于制度的不健全、上市公司内部结构不合理、信息披露自愿性不高、监管审查力度不够等多方面原因,上市公司在会计信息披露过程中仍然存在着信息披露不真实准确、不充分完整、不及时等许多信息披露质量问题,上市公司会计信息造假的情况也屡见不鲜。因此,如何提高我国上市公司会计信息披露质量,已成为我们迫切需要解决的问题。所以,应该对我国上市公司会计信息披露质量问题进行深入的分析研究,找出我国上市公司会计信息披露存在的问题以及导致问题产生的主要原因,从而找出改进对策以提高我国上市公司会计信息披露质量,保障我国证券市场,乃至整个资本市场的健康发展。
本文针对如何提高我国上市公司会计信息披露质量这一热点问题,在阅读大量相关文献的基础上,进行了较为深入的研究分析。首先,明确文章的研究背景、研究意义、国内外的研究现状、研究内容及研究方法。然后,介绍了会计信息披露的相关情况和理论基础,为全文提供有力的理论支撑。论文的第三部分对我国上市公司信息披露的现状进行了分析。本文的核心是第四部分和第五部分。在论文的第四部分,介绍了导致我国上市公司会计信息披露问题产生的原因。论文结合了我国上市公司会计信息披露的相关案例,对我国上市公司信息披露质量问题产生的主要原因进行了深入分析。论文第五部分针对第四部分分析的导致上市公司会计信息披露质量问题产生的原因,从健全会计信息披露规范体系、完善公司法人治理结构、提高上市公司信息披露自愿性、加强对上市公司会计信息披露的监管几个角度提出了规范我国上市公司会计信息披露质量的相关对策。
In today's age of information, disclosure of information is listed on the external connection listed companies and the securities market of the bridge and link, and disclosure quality will directly affect the information the consumer's decision and the development of China's capital market. Disclosure of accounting information, refer to the relevant laws and regulations, the financial condition and operating results and other relevant information to the report of the securities regulatory authorities, and to the public announcement of a behavior. Accounting information disclosure is the primary means of investors understand the listed companies and the securities regulatory body monitor the listed companies. Information disclosure is the basis for the healthy development of securities market. Therefore, improving the quality of accounting information disclosure can help protect the users of accounting information for the legitimate rights and interests, maintaining effective functioning of securities markets. In recent years, distortion of information disclosure has become an unavoidable issue in securities markets. China and other countries, listed information disclosure violations continue to occur. From Lan Tian, Guangxia frauds case, Enron, Shi Tong scandals, people on the credibility of corporate disclosure had questioned sparked the quality of information disclosure in-depth thinking. The quality of accounting information disclosure of listed companies issue has gradually become a hot issue.
The development of China's securities market late compared with developed countries, since 1990s, Shanghai and Shenzhen Stock Exchange have been established, our company began formal disclosed accounting information. After the ten years of development, Chinese public company information disclosure system from scratch and never sound to the sound, to regulate corporate disclosure and protection of investors'interests and protect the development of capital markets are playing a positive role. But we should also be a clear understanding that our corporate disclosure either from the system, or from the specific implementation, there are insufficient.
In recent years, China has gradually formed a securities law as a Center, a series of related laws and regulations of complementary information disclosure system that serve to standardize corporate disclosure principle requirements and content of the system, and the establishment of corporate disclosure Regulation review system. But because of the internal structure of listed companies, inadequate regulatory review, penalties are insufficient, and many other reasons, in the disclosure process there are still exist information disclosed is untrue, not timely, inadequate and many other information disclosure violations, false accounting information always happen.. Therefore, how to improve the quality of accounting information disclosure, and how to protect the disclosure of accounting information true and accurate has become an urgent problem to be solved. Therefore, we should be analysis and research the quality of corporate disclosure in China, identify our accounting information disclosure problems and the main reason, in order to constantly improve our quality of accounting information disclosure, to protect our country's stock market and the effective operation of the capital market.
This article on how to improve the quality of accounting information disclosure, read a lot on the basis of the relevant literature, conducting a more in-depth study. First, the article introduces the research background, significance, status and research methods. Then, introduced the relevant concepts and theoretical foundation of accounting information disclosure for provide strong theoretical support. In the third part, the status and problems of the information disclosure of listed companies in China were analyzed. The fourth and the fifth part are the core of this article. In the fourth part, describes the impact of accounting information for listed companies in China. Thesis combines the relevant cases of accounting information disclosure, in-depth analysis of the main reason of poor quality of the listed company information disclosure. The fifth part has the response to the fourth part of the analysis of the reasons lead accounting information disclosure's quality poor, proposing the relevant countermeasures in various perspectives form improving the standard system of accounting information disclosure, improving corporate governance structure, improving the voluntary nature of accounting disclosure and strengthen supervision of accounting information disclosure.
引文
①HK Baker, JA Haslem. Information Needs of Individual Investors[M].Journal of Accountancy,1973.
②Stephen L, Buzby. Selected Items of Information and Their Disclosure in Annual Review. [M].The Accounting Review,1974.
①沈玲.浅析上市公司信息披露问题[J].引进与咨询,2005，(11).
②何卫东.上市公司自愿性信息披露研究[J].深圳证券交易所综合研究所,2003，(9).
①Jensen, M.C.,Meckling, M.H.. Theory of the firm:Managerial behavior, agency costs and ownership structure[J]. Journal of Financial Economics,1976, (10).
②Grossman S.,The role of warranties and private disclosure about product quality [J].Journal of Law and Economics,1981, (5).
①深圳证券交易所上市公司信息披露工作考核办法[R].深圳证券交易所,2008．
①上海证券交易所研究中心.中国公司治理报告(2008)：透明度与信息披露[M].复旦大学出版社.2008(6).
①会计信息质量检查公告[R].财政部,2006.
①吴鼎、陈妍妍.从杭萧钢构事件看信息披露充分性原则的必要性[J].商业文化,2008,(4).
①李霖．2007年沪市上市公司独立董事履职情况分析[R].上海证券交易所上市公司部,2008.
①中国上市公司内部控制调查分析报告[R].德勤会计师事务所,2009.
①中华人民共和国财政部会计信息质量检查公告第15号[R].财政部,2009.
①黄璐璐.基于公司治理的上市公司会计监督问题研究[D].华东交通大学,2009.
①张亚东、吴革、周亚力.财务报告陷阱防范[M]．北京出版社,2004.
①李瑞兰,后股权分置时代上市公司信息披露监管创新探讨[J].中国农业会计,2010，(8).
[1]张亚东、吴革、周亚力.财务报告陷阱防范[M].北京出版社,2004：26-52.
[2]上海证券交易所研究中心.中国公司治理报告(2008)：透明度与信息披露[M].复旦大学出版社,2008：25-37.
[3]徐明.证券法律制度研究[M].百家出版社,2002：67-89.
[4]张力上.上市公司信息披露与分析[M].成都：西南财经大学出版社,2005：89-103.
[5]田昆儒、齐萤,张帆.上市公司会计信息披露质量提升问题研究[J].当代财经,2006,(1)：15-17.
[6]中国上市公司内部控制调查分析报告[R].德勤会计师事务所,2009.
[7]孙飞.上市公司会计信息披露问题研究[D]．东北财经大学,2006：8-16.
[8]孙慧敏．上市公司信息披露质量探讨[D].江西财经大学,2008：20-26.
[9]谭丽萍.我国上市公司信息披露制度的不足和完善[J].商业文化,2008,(9)：19-22.
[10]吴霏雨.美国上市公司预测性财务信息披露制度及其启示[J].财会月刊,2007,(1)：31-35.
[11]杨政、董必荣、施平.智力资本信息披露困境评析[J].会计研究,2007,(1)：24-27.
[12]财政部.会计信息质量检查报告[R].财政部,2006.
[13]于海.上市公司信息披露质量影响因素的实证研究[D].西安理工大学,2008：16-21.
[14]吉祖来.上市公司信息披露问题研究[J].金融纵横,2009,(4)：21-23.
[15]沈玲．浅析上市公司信息披露研究[J].引进与咨询,2005,(11)：27-29.
[16]李霖.2007年沪市上市公司独立董事履职情况分析[R].上海证券交易所公司部,2008.
[17]中国人民共和国财政部会计信息质量检查公告第15号[R].财政部, 2009.
[18]架盛元.试论会计信息的质量特征及其体系构[J].财会研究,2006,(4)：25-28.
[19]李华.公司治理与会计信息披露[J].山东财政学院学报,,2005,(4)：17-20.
[20]黄璐璐.基于公司治理结构的上市公司会计监督问题研究[D].华东交通大学，2009：21-26.
[21]李明辉、何海.对自愿性信息披露的若干思考[J].兰州大学学报(社会科学版),2002,(4)：28-31.
[22]综合研究所法律研究小组.2007年证券市场主体违规情况报告[J].深圳证券交易所,2008,(18)：38-40.
[23]巫升柱、王建玲、乔旭东．中国上市公司年度报告披露及时性实证研究[J].会计研究,2006,(2)：26-29.
[24]陈娟.会计信息质量与公司治理问题研究[J].闽江职业大学学报,2002,(3)：9-12.
[25]李玉婷.上市公司信息披露研究回顾及建议[J].时代经贸,2007,(11)：30-32.
[26]何进日、武丽.信息披露制度变迁与欺诈监管[J].会计研究,2006,(10)：19-21.
[27]张宗新、朱伟骅.我国上市公司信息披露质量的实证研究[J].南开经济研究,2007,(1)：31-32.
[28]王斌、梁欣欣.公司治理、财务状况与信息披露质量[J].会计研究,2008,(3)：23-25.
[29]龚卫华.中国上市公司会计信息披露研究[J].浙江金融,2008,(2)：16-18.
[30]刘东方.我国上市公司会计信息披露质量研究[J].企业家天地,2008,(7)：20-22.
[31]王前锋、张家彬.上市公司信息披露考评状况研究[J].财会月刊,2009,(4)：19-21.
[32]单超.中国上市公司信息披露问题研究[J].法商论丛,2009,(6)：30-32.
[33]王妍妍.影响上市公司会计信息披露质量因素探析[J].现代商贸工业,2010,(1)：27-29.
[34]马丽敏.上市公司信息披露的问题及对策[J]．消费导刊,2009,(8)：12-14.
[35]王琪.关于上市公司会计信息披露问题的思考[J].经济技术协作信息,2008,(5)：24-26.
[36]吴鼎、陈妍妍.从杭萧钢构事件看信息披露充分性原则的必要性[J].商业文化,2008,(4)：31-33.
[37]潘淡、辛清泉.所有权、公司治理结构与会计信息质量—基于契约理论的现实思考[J].经济研究,2004,(4)：38-40.
[38]何卫东.上市公司自愿性信息披露研究[J].深圳证券交易所综合研究所,2003,(9)：15-17.
[39]肖湘.上市公司会计信息披露制度研究J].企业天地,2007,(10)：19-22.
[40]深交所.深圳证券交易所上市公司信息披露工作考核办法[R].深交所,2008.
[41]薛祖云.会计信息市场政府监管研究[J].中国财政经济出版社,2005,(9)：29-31.
[42]张伟峰.会计信息质量特征初探[J].企业经济,2003,(11)：27-29.
[43]Cerf R A. Corporate Reporting and Investment Decisions[M],1961:67-98.
[44]Stephen L & Buzby. Selected Items of Information and Their Disclosure in Annual Review[J]. The Accounting Review,1974, (7):423--435.
[45]A Priebjrivat. Corporate Disclosure:A Case of Securities Exchange of Thailand[M]. New York University,1991:253-287.
[46]HJ Schadewitz, DR Blevins. Major determinants of interim disclosures in an emerging market[J]. American Business Review,1998, (9):173--184.
[47]HK Baker, JA Haslem. Information Needs of Individual Investors[J]. Journal of Accountancy,1973, (5):61--78.
[48]Lang M, R Lundholm. Cross-Sectional Determinants of Analysts Ratings of Corporate Disclosure[J]. Journal of Accounting Research,1993 (31):246--271.
[49]Miller, Piotroski. The role of disclosure for high book-to-market firms[J]. Unpublished working paper, Harvard University,2000, (5):2-5.
[50]Robert M.Bushman. Transparency, financial accounting information, and corporate governance [J].Economic Policy Review,2003,(1):26-30.
[51]Fama,E.R. Efficient capital market:A review of theory and empirical work[J]. Journal of Finance,1970, (11):15-25.
[52]Jensen, M.C., Meckling, M.H.. Theory of the firm:Managerial behavior, agency costs and ownership structure[J]. Journal of Financial Economics, 1976, (10):305-360.
[53]Gaber, M.. Management incentives to report forecasts of corporate earnings[D]. New York:The City University of New York,1985:28-51.
[54]Grossman S.. The role of warranties and private disclosure about product quality [J]. Journal of Law and Economics,1981, (24):461-483.
[54]Chau, G.K., Gray, S.J.. Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore[J].International Journal of Accounting,2002, (37):247-265.
②Stephen L, Buzby. Selected Items of Information and Their Disclosure in Annual Review. [M].The Accounting Review,1974.
①沈玲.浅析上市公司信息披露问题[J].引进与咨询,2005，(11).
②何卫东.上市公司自愿性信息披露研究[J].深圳证券交易所综合研究所,2003，(9).
①Jensen, M.C.,Meckling, M.H.. Theory of the firm:Managerial behavior, agency costs and ownership structure[J]. Journal of Financial Economics,1976, (10).
②Grossman S.,The role of warranties and private disclosure about product quality [J].Journal of Law and Economics,1981, (5).
①深圳证券交易所上市公司信息披露工作考核办法[R].深圳证券交易所,2008．
①上海证券交易所研究中心.中国公司治理报告(2008)：透明度与信息披露[M].复旦大学出版社.2008(6).
①会计信息质量检查公告[R].财政部,2006.
①吴鼎、陈妍妍.从杭萧钢构事件看信息披露充分性原则的必要性[J].商业文化,2008,(4).
①李霖．2007年沪市上市公司独立董事履职情况分析[R].上海证券交易所上市公司部,2008.
①中国上市公司内部控制调查分析报告[R].德勤会计师事务所,2009.
①中华人民共和国财政部会计信息质量检查公告第15号[R].财政部,2009.
①黄璐璐.基于公司治理的上市公司会计监督问题研究[D].华东交通大学,2009.
①张亚东、吴革、周亚力.财务报告陷阱防范[M]．北京出版社,2004.
①李瑞兰,后股权分置时代上市公司信息披露监管创新探讨[J].中国农业会计,2010，(8).
[1]张亚东、吴革、周亚力.财务报告陷阱防范[M].北京出版社,2004：26-52.
[2]上海证券交易所研究中心.中国公司治理报告(2008)：透明度与信息披露[M].复旦大学出版社,2008：25-37.
[3]徐明.证券法律制度研究[M].百家出版社,2002：67-89.
[4]张力上.上市公司信息披露与分析[M].成都：西南财经大学出版社,2005：89-103.
[5]田昆儒、齐萤,张帆.上市公司会计信息披露质量提升问题研究[J].当代财经,2006,(1)：15-17.
[6]中国上市公司内部控制调查分析报告[R].德勤会计师事务所,2009.
[7]孙飞.上市公司会计信息披露问题研究[D]．东北财经大学,2006：8-16.
[8]孙慧敏．上市公司信息披露质量探讨[D].江西财经大学,2008：20-26.
[9]谭丽萍.我国上市公司信息披露制度的不足和完善[J].商业文化,2008,(9)：19-22.
[10]吴霏雨.美国上市公司预测性财务信息披露制度及其启示[J].财会月刊,2007,(1)：31-35.
[11]杨政、董必荣、施平.智力资本信息披露困境评析[J].会计研究,2007,(1)：24-27.
[12]财政部.会计信息质量检查报告[R].财政部,2006.
[13]于海.上市公司信息披露质量影响因素的实证研究[D].西安理工大学,2008：16-21.
[14]吉祖来.上市公司信息披露问题研究[J].金融纵横,2009,(4)：21-23.
[15]沈玲．浅析上市公司信息披露研究[J].引进与咨询,2005,(11)：27-29.
[16]李霖.2007年沪市上市公司独立董事履职情况分析[R].上海证券交易所公司部,2008.
[17]中国人民共和国财政部会计信息质量检查公告第15号[R].财政部, 2009.
[18]架盛元.试论会计信息的质量特征及其体系构[J].财会研究,2006,(4)：25-28.
[19]李华.公司治理与会计信息披露[J].山东财政学院学报,,2005,(4)：17-20.
[20]黄璐璐.基于公司治理结构的上市公司会计监督问题研究[D].华东交通大学，2009：21-26.
[21]李明辉、何海.对自愿性信息披露的若干思考[J].兰州大学学报(社会科学版),2002,(4)：28-31.
[22]综合研究所法律研究小组.2007年证券市场主体违规情况报告[J].深圳证券交易所,2008,(18)：38-40.
[23]巫升柱、王建玲、乔旭东．中国上市公司年度报告披露及时性实证研究[J].会计研究,2006,(2)：26-29.
[24]陈娟.会计信息质量与公司治理问题研究[J].闽江职业大学学报,2002,(3)：9-12.
[25]李玉婷.上市公司信息披露研究回顾及建议[J].时代经贸,2007,(11)：30-32.
[26]何进日、武丽.信息披露制度变迁与欺诈监管[J].会计研究,2006,(10)：19-21.
[27]张宗新、朱伟骅.我国上市公司信息披露质量的实证研究[J].南开经济研究,2007,(1)：31-32.
[28]王斌、梁欣欣.公司治理、财务状况与信息披露质量[J].会计研究,2008,(3)：23-25.
[29]龚卫华.中国上市公司会计信息披露研究[J].浙江金融,2008,(2)：16-18.
[30]刘东方.我国上市公司会计信息披露质量研究[J].企业家天地,2008,(7)：20-22.
[31]王前锋、张家彬.上市公司信息披露考评状况研究[J].财会月刊,2009,(4)：19-21.
[32]单超.中国上市公司信息披露问题研究[J].法商论丛,2009,(6)：30-32.
[33]王妍妍.影响上市公司会计信息披露质量因素探析[J].现代商贸工业,2010,(1)：27-29.
[34]马丽敏.上市公司信息披露的问题及对策[J]．消费导刊,2009,(8)：12-14.
[35]王琪.关于上市公司会计信息披露问题的思考[J].经济技术协作信息,2008,(5)：24-26.
[36]吴鼎、陈妍妍.从杭萧钢构事件看信息披露充分性原则的必要性[J].商业文化,2008,(4)：31-33.
[37]潘淡、辛清泉.所有权、公司治理结构与会计信息质量—基于契约理论的现实思考[J].经济研究,2004,(4)：38-40.
[38]何卫东.上市公司自愿性信息披露研究[J].深圳证券交易所综合研究所,2003,(9)：15-17.
[39]肖湘.上市公司会计信息披露制度研究J].企业天地,2007,(10)：19-22.
[40]深交所.深圳证券交易所上市公司信息披露工作考核办法[R].深交所,2008.
[41]薛祖云.会计信息市场政府监管研究[J].中国财政经济出版社,2005,(9)：29-31.
[42]张伟峰.会计信息质量特征初探[J].企业经济,2003,(11)：27-29.
[43]Cerf R A. Corporate Reporting and Investment Decisions[M],1961:67-98.
[44]Stephen L & Buzby. Selected Items of Information and Their Disclosure in Annual Review[J]. The Accounting Review,1974, (7):423--435.
[45]A Priebjrivat. Corporate Disclosure:A Case of Securities Exchange of Thailand[M]. New York University,1991:253-287.
[46]HJ Schadewitz, DR Blevins. Major determinants of interim disclosures in an emerging market[J]. American Business Review,1998, (9):173--184.
[47]HK Baker, JA Haslem. Information Needs of Individual Investors[J]. Journal of Accountancy,1973, (5):61--78.
[48]Lang M, R Lundholm. Cross-Sectional Determinants of Analysts Ratings of Corporate Disclosure[J]. Journal of Accounting Research,1993 (31):246--271.
[49]Miller, Piotroski. The role of disclosure for high book-to-market firms[J]. Unpublished working paper, Harvard University,2000, (5):2-5.
[50]Robert M.Bushman. Transparency, financial accounting information, and corporate governance [J].Economic Policy Review,2003,(1):26-30.
[51]Fama,E.R. Efficient capital market:A review of theory and empirical work[J]. Journal of Finance,1970, (11):15-25.
[52]Jensen, M.C., Meckling, M.H.. Theory of the firm:Managerial behavior, agency costs and ownership structure[J]. Journal of Financial Economics, 1976, (10):305-360.
[53]Gaber, M.. Management incentives to report forecasts of corporate earnings[D]. New York:The City University of New York,1985:28-51.
[54]Grossman S.. The role of warranties and private disclosure about product quality [J]. Journal of Law and Economics,1981, (24):461-483.
[54]Chau, G.K., Gray, S.J.. Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore[J].International Journal of Accounting,2002, (37):247-265.