上市公司控制结构与信息披露质量  

The Empirical Research on the Relationship between Control Structure and the Quality of Information Disclosure

作　　者：王雄元[1] 沈维成[2] 

机构地区：[1]中南财经政法大学会计学院,湖北武汉430060 [2]安徽工业大学管理学院,安徽马鞍山243002

出　　处：《证券市场导报》2008年第4期63-69,共7页Securities Market Herald

基　　金：国家社会科学基金青年项目(批准号:05cjy007):“监管理论与上市公司信息披露策略研究”

摘　　要：本文通过构建控制结构,并从横向和纵向两个维度,以及控制层次、最终控制人属性、股权集中度和股东人数四个变量,分项和综合考察了公司治理对信息披露质量的影响。结果显示,信息披露质量与控制层次、股东人数显著负相关,与股权集中度显著正相关,与最终控制人属性无显著关联,其中后两个结论与现有文献不一致。本文首次检验了股东人数和信息披露质量间的关系,首次将四个指标整合在一起考察其对信息披露质量的影响,这些结论有助于我们有针对性地改进公司治理以提高信息披露质量。This paper builds up the control structure model, which contains vertical and horizontal dimensions, and four attributes of controlling layer, ultimate controller, share concentration and shareholder quantity, to researches the impact of corporate governance on the quality of information disclosure. The result shows： the quality of information disclosure is negatively related to controlling layer and shareholder quantity, and positively related to share concentration, while not related to the attribute of ultimate controller. The last two conclusions are in contradiction with the present articles. The contribution of this paper lies in： we first test the relationship between shareholder quantity and the quality of information disclosure, and first recognize the four variables and research their effect on the quality of information disclosure. The conclusion of the paper could help prefect corporate governance and improve the quality of information disclosure.

关 键 词：控制结构 最终控制人属性 股权集中度 信息披露质量 

分 类 号：F276.6[经济管理—企业管理]