会计信息披露外文文献文档格式.docx

1、Voluntary Information Disclosure2008 第九期文献、资料来源：Journal of Accounting&Economics文献、资料发表（出版）日期：2008 年 9 月院 （部）： 商学院专业： 会计学辅修专业班级： 会计辅修专业09 级姓名：学号： 指导教师：翻译日期： 2017 年 9 月 17 日A Study on the Supervision System with Voluntary Information Disclosure in Chinese Listed CompaniesAbstractThe voluntary informat

2、ion of listed companies is based on corporate image, the investor relates, which is to avoidlawsuit risk besides the compulsory information disclosure. The information, which the companies disclosed on their own initiative, is the important part of disclosure information. It is an effective way that

3、 demonstrates their core competitive ability. The author analyzed the problems on voluntary information disclosed, which existed in Chinese mainland listed company, proposed the suggestion of constructing supervision system which listed companies voluntary information to disclose.Keywords:Listed com

4、panies, Compulsory information disclosure, Voluntary information disclosure, SupervisionSystem1. As the expansion of the increase of the number of listed companies and the increasingly drastic market competition,the competition has become more difficult in more and more listed companies. In order to

5、 catch the scarce resource-the capital, companies tend to choose the way of V oluntary information Disclosure. Listed companies,with voluntary to disclose the information refers to corporate image, the investor relation, avoid lawsuit risk besides the compulsory information disclosure. However, the

6、supervision system is not good enough; the information disclosed voluntarily is hard to be proof the truth. Therefore, it becomes more and more important to build the supervision system with voluntary information disclosure for listed companies.2. Motivation of Compulsory information disclosureInfor

7、mation, the Voluntary disclosure, is the executives in listed companies 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, completely based on the benefit and this behavior wh

8、ich is the costing. The superintendents decision-making 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- 12 -superintendent rather does not carry

9、 on the voluntary information to disclose, their manners will change with the cost income relations changing. （Kai Xiang, 2004）With the China capital market gradually development, the business management authority can reduce the average capital cost, enhance the financial analyst and investors inter

10、est, enhance company confidence level, improve investment relations, stand out company competitive advantages, enhance company stocks market fluidity, but alsomay reduce the companys lawsuit risk ,because the disclosure is not enough and so on, by disclosing voluntaryinformation besides the compulso

11、ry information disclosure. The China capital market information disclosure also can gradually move to the stage of paying equal attention to voluntary and compulsory disclosure, not the simply regarding of the compulsory disclosure, the voluntary information disclosure will certainly to be the effec

12、tive way,by which listed companies can demonstrate the core competitive ability, communicate with the stakeholders, and describe the company future. （Xianzhong Song, 2006）3. Content of Compulsory information disclosureListed companies, with voluntary to disclose the information is refers to corporat

13、e image, the investor relates, avoid lawsuit risk except for the compulsory information disclosure. Learning from foreign listed companies experience of disclosing information voluntarily , and according to the situation in China, the listed companies voluntary disclosure of information include:The

14、forward-looking information, based on the companys “core competence”. 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 decision-making;Information communicated with the mar

15、ket intermediaries and investors or the evaluation information from them;Information of human resources. Under the conditions of the knowledge economy society, human capitalbecomes more and more important. Particularly in the high tech, high-growth companies, employees are the companys most valuable

16、 asset. Research shows that these companies were significantly better than other companies,in the above-mentioned aspects of the voluntary disclosure of information;According to the accounting standards of the conservative principles, there is also lack of proper disclosure rules or low in requirements disclosure, which is useful for