Corporate Performance, Agency Costs and Non-financial Information Disclosure

Taking Shanghai and Shenzhen A-share listed companies as samples, this paper studies the relationship between corporate performance, agency cost and non-financial information disclosure.It is found that non-financial information disclosure is positively correlated with corporate performance and negatively correlated with agency cost.Further analysis shows that the higher the level of non-financial information disclosure, the stronger the ability to control risks. Based on the stakeholder - agency theory, this paper studies the non-financial information disclosure of listed companies in China in reducing the agency cost among stakeholders.The conclusion shows that the managers should promote good non-financial information disclosure, which can not only improve the performance of the company, but also reduce the risk and agency cost.