交叉上市与信息披露水平提升——源于国际融资动机还是监管环境

发布时间：2018-05-16 23:01

本文选题：信息披露 + 交叉上市　；参考：《现代财经(天津财经大学学报)》2014年10期

【摘要】：本研究以2011年中国全部纯A股、A+B股和A+H股上市公司为样本,考察国际融资动机和监管环境如何影响上市公司的强制性信息披露、自愿性信息披露、真实性信息披露、及时性信息披露以及信息披露整体水平。研究发现,国际融资动机使上市公司披露更多的自愿性信息和真实性信息,而较完善的监管环境使上市公司更真实和及时地披露信息。可见,上市公司可被视为理性的信息披露者,未来治理工作可以尝试因势利导,强化信息披露在市场机制中的作用,同时继续优化公司治理结构和完善监管环境。
[Abstract]:This study takes all the pure A A B shares and A H shares listed companies in China in 2011 as samples to investigate how international financing motivation and regulatory environment affect mandatory information disclosure, voluntary information disclosure and truthful information disclosure of listed companies. Timely information disclosure and the overall level of information disclosure. It is found that the motivation of international financing makes the listed companies disclose more voluntary information and truthful information, while the more perfect regulatory environment makes the listed companies disclose information more truthfully and timely. It can be seen that listed companies can be regarded as rational disclosures. In the future, they can try to guide the situation, strengthen the role of information disclosure in the market mechanism, at the same time, continue to optimize the corporate governance structure and improve the regulatory environment.
【作者单位】：北京师范大学经济与工商管理学院;
【基金】：教育部人文社会科学研究青年基金项目(14YJC790149) 国家社会科学基金重点项目(12AZD059)
【分类号】：F832.51;F224

【参考文献】