| 机构投资者与上市公司年报披露及时性的实证研究 |
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| 引用本文： | 罗栋梁. 机构投资者与上市公司年报披露及时性的实证研究[J]. 事业财会, 2010, 0(5) |
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| 作者姓名： | 罗栋梁 |
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| 作者单位： | 徐州师范大学管理学院; |
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| 基金项目： | 徐州师范大学优秀青年骨干教师培养计划(XGG2007024),徐州师范大学科研启动基金(KY2007031); 江苏省教育厅高等学校哲学社会科学基金项目(08SJD6300049)的阶段性成果 |
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| 摘 要： | 我们运用Logit模型检验机构投资者持股量与上市公司年报披露时间差异之间的关系时发现,机构投资者促进了上市公司年报的及时披露。但是,机构投资者在促进上市公司年报及时披露的程度与整个证券市场环境相关。在证券市场整体牛市时,机构投资者似乎对上市公司年报披露是否提前并不产生影响,但是当股票市场整体处于熊市时,机构投资者对会计信息的需求愿望比较强烈,机构投资者持股量与上市公司提前披露年报显著正相关。这说明了机构投资者只是会计信息的外部使用者之一,机构投资者促进了上市公司年报及时披露,机构投资者没有降低信息披露的质量。
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| 关 键 词： | 机构投资者 信息披露 及时性 |
The Empirical Research between the Institutional Investors and Timeliness of Annual Report Disclosure |
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| LUO Dong-liang School of Management,Xuzhou Normal University,Xuzhou. The Empirical Research between the Institutional Investors and Timeliness of Annual Report Disclosure[J]. , 2010, 0(5) |
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| Authors: | LUO Dong-liang School of Management Xuzhou Normal University Xuzhou |
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| Affiliation: | LUO Dong-liang School of Management,Xuzhou Normal University,Xuzhou 221009 |
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| Abstract: | We use logit model to test the relationship between institutional investors and the time difference of listed company annual report,institutional investors are found to promote listed company disclosing annual report timely.However,the level of promotion is related to the environment of securities market.In the bull market,Institutional investors appear to have no impact on whether the listed company disclose annual report timely,but in the bear market,institutional investors needs more accounting informati... |
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| Keywords: | Institutional Investors Information Disclosure Timeliness |
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