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论文编号：	2027
作者编号：	041828
上传时间：	2010/5/18 11:12:18
中文题目：	公司内部治理结构与信息自愿披露相关性研究
英文题目：	Voluntary disclosure Ownership structure
指导老师：	周晓苏
中文关键字：	自愿披露 股权结构 董事会特征
英文关键字：	Voluntary disclosure Ownership structure Board compositionVoluntary disclosure
中文摘要：	随着证券市场的发展，自愿披露正受到投资者、监管部门、上市公司越来越多的重视。了解为什么公司会自愿进行信息披露对于会计信息的准备者和使用者都有意义，同样对于会计政策制定者也有意义。国外学者已经对自愿披露进行了大量研究，然而他们大部分的研究都是基于美国、英国和欧洲大陆性国家，较少人研究亚洲国家公司自愿性信息披露的性质和程度。中国有自己不同的文化背景和公司治理结构，相应的自愿披露性质和程度就存在不同于欧美国家的情况，这就是本文研究的意义。 本文采用规范研究和实证研究相结合，以实证为主的研究方法，探讨我国公司内部治理结构中的股权结构和董事会特征对上市公司自愿披露的影响。本文的主要分为四部分。第一部分是文献综述，主要是对国内外有关自愿披露研究的相关文献进行回顾和总结；第二部分是对信息自愿披露进行理论分析，从概念上对信息披露进行界定，分别从经济学角度和会计学角度对自愿披露产生的动因进行了分析；第三部分是公司内部治理对信息自愿披露的影响，主要以委托代理理论和信息不对称理论作为理论基础，详细分析了公司内部治理结构中的股权结构和董事会特征对自愿披露的影响，并提出相应的假设；第四部分是实证检验研究，通过建立自愿披露信息明细表，利用我国上市公司年度报告中披露的数据，对公司内部治理结构与信息自愿披露的影响进行实证研究。文章的最后是对全文的总结和进一步的研究方向。 通过分析，笔者得到以下结论：我国上市公司自愿性信息披露的总体水平偏低，并且在自愿披露项目选择上存在一定的偏好；股权集中度、董事会规模与自愿性信息披露程度显著负相关，国有股比例与自愿性信息披露程度显著正相关，流通股比例、独立董事比例、董事长和总经理两职合一与自愿性信
英文摘要：	Along with the development of security market, voluntary disclosure is receiving more attention from the investor, supervising bureau and listed company. Understanding why firms disclose information voluntarily is useful to both the preparers and users of accounting information as well as to accounting policymakers. Studies in this area have mainly been done by foreign scholars. However, the focus of much of the research to date has been on the US, the UK, and Continental European countries. In contrast, very few studies have been concerned with in Asian countries. It has different cultural environments and corporate governance structure in Chinese companies. Accordingly, the voluntary disclosure will be different from the west countries’. This dissertation examines the impact of internal corporate governance on voluntary disclosure, based on agent theory and information asymmetry theory. There are four parts in this dissertation. The first one is literature review in this area. The part followed is the main theoretical analysis of voluntary disclosure. The motivation of voluntary disclosure has been analyzed from the point of economics view and accounting view separately. The Chapter 3 particularly talks about the impact of ownership structure and board composition on voluntary disclosure, and puts forward the hypothesis. The Chapter 4 establishes one regression model, using the data disclosed by the listed companies in their annual reports, to do empirical research. The main conclusions are: the overall level that the listed company of our country voluntary disclosure is still on the low side at present, and it has a partiality to the choice of voluntary items; the concentration of ownership and the size of board are significantly and negatively related to the extent of voluntary disclosure, and the percentage of government ownership is significantly and positively associated with the extent of voluntary disclosure. However, the percentage of tradable shares, the proportion of independent directors and the existence of dominant personalities (CEO/Chairman duality) are not significantly related to disclosure.
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