Empirical Study on the Impact of Information Disclosure Quality on Listed Companies Value--An Empirical Analysis of Chinas Listed Companies from 2013 to 2015

摘要：

　　Firstly,this paper analyzes the information disclosure status of A-share listed companies in Shenzhen Stock Exchange.Through the statistics and analysis of information disclosure assessment results,it finds out that the information disclosure level of listed companies has been obviously improved.This result shows that relevant rules and regulations of information disclosure implemented in recent years played a certain role.Secondly,using the data from 2013 to 2015 as a sample,taking Tobins Q value as the surrogate variable of the companys value,the assessment result of the Shenzhen Stock Exchanges information disclosure as the substitute variable of the information disclosure quality,introducing the relevant control variables,establishing regression model to empirically analyze the impact of quality of information disclosure on enterprise value.The results indicate that the quality of information disclosure of listed companies has a positive correlation with the value of the company.

关键词： Information Disclosure Quality Listed Company Company Value Tobins Q

作者: Dongwu Niu Heng Ma

作者单位: Nanjing University of Aeronautics and Astronautics,Nanjing 210016,China

会议类型: 国际会议

会议名称: ICEFS2017(International Conference on Economics, Finance and Statistics 2017) (2017经济、金融与统计国际会议)

会议地点: 香港

会议语种:英文

页码: 177-183

在线出版日期: 2017-01-14（万方平台首次上网日期，不代表论文的发表时间）