| 系族企业信息披露行为研究:基于民营上市公司的经验分析 |
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| 引用本文： | 高明华,杜雯翠.系族企业信息披露行为研究:基于民营上市公司的经验分析[J].当代经济管理,2011,33(9):21-26. |
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| 作者姓名： | 高明华 杜雯翠 |
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| 作者单位： | 北京师范大学经济与工商管理学院,北京,100875 |
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| 基金项目： | 国家社科基金《终极产权、利益侵占与投资者权益保护》(09BJL023); 教育部人文社科基金《次贷危机与公司治理》(09YJA630010);教育部新世纪优秀人才支持计划(NCET-08-0067); 中央高校基本科研业务费专项资金资助 |
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| 摘 要： | 利用2009年民营上市公司的数据,从强制性信息披露、自愿性信息披露、信息披露真实性和信息披露及时性等几个方面分析了系族企业与非系族企业信息披露行为的差异。发现其差异主要体现在自愿性信息披露上,系族企业的自愿性信息披露水平明显低于非系族企业的自愿性信息披露水平。另外,对于系族企业来说,两权分离度越大,自愿性信息披露水平越低。这说明系族企业的两权分离度越高,利益侵占情况越严重,终极产权所有者越倾向于对其他投资者隐瞒信息。
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| 关 键 词： | 系族控制 强制性信息披露 自愿性信息披露 |
Business Group and Information Disclosure:Evidence from Chinese Family-dominated Corporations |
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| Gao Minghua,Du Wencui.Business Group and Information Disclosure:Evidence from Chinese Family-dominated Corporations[J].Contemporary Economic Management,2011,33(9):21-26. |
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| Authors: | Gao Minghua Du Wencui |
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| Institution: | Gao Minghua,Du Wencui(School of Economics and Business Administration,Beijing Normal University,Beijing 100875,China) |
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| Abstract: | Using the data of private listed companies,this paper analyzes the difference in the information disclosure behavior between group member and non-group member in terms of compulsive information disclosure,voluntary information disclosure,truth of information disclosure and timeliness of information disclosure,finding that the difference mainly lies in voluntary information disclosure in which the voluntary information disclosure in group members is obviously worse than that in non-group members.For group me... |
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| Keywords: | business group compulsive disclosure voluntary disclosure |
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