The Information Disclosure of Internal Control, Market Reaction, and Investor Return

摘要：

　　In 2012, China started the construction work of mandatory disclosure of internal control information in listed companies.This study detects the market reaction in the construction period for the classifiable implementation of the internal control standard system since 2012 in China.It was found that the internal control information could trigger a market reaction in the short window period before and after the disclosure date.And the valid information disclosure of internal control raised the possibility of excess returns to investors.

关键词： Internal Control Information Disclosure Information Content Market Reaction

作者: LIU Bin WU Xihao

作者单位: School of Economics and Management, Hainan University, Haikou, China, 570228

会议类型: 国际会议

会议名称: The 9th (2017)International Conference on Financial Risk and Corporate Finance Management(第九届(2017)金融风险与公司金融国际研讨会)

会议地点: 日本

会议语种:英文

页码: 366-370

在线出版日期: 2017-07-01（万方平台首次上网日期，不代表论文的发表时间）