Empirical Study on the Impact of Information Disclosure Quality on Listed Companies' Value

被引：0

作者：

Niu, Dongwu ^{[1
]}

Ma, Heng ^{[1
]}

机构：

[1] Nanjing Univ Aeronaut & Astronaut, Nanjing 210016, Jiangsu, Peoples R China

来源：

PROCEEDINGS OF THE 2017 INTERNATIONAL CONFERENCE ON ECONOMICS, FINANCE AND STATISTICS (ICEFS 2017) | 2017年 / 26卷

关键词：

Information Disclosure Quality; Listed Company; Company Value; Tobin's Q;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

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 Tobin's Q value as the surrogate variable of the company's value, the assessment result of the Shenzhen Stock Exchange's 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.

引用

页码：177 / 183

页数：7

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