柜台市场会计信息披露研究——国外文献述评与启示  

A Study on the Disclosure of Accounting Information in the OTC Market

作　　者：崔志娟[1,2] 

机构地区：[1]山东经济学院会计学院,250014 [2]天津财经大学会计学院,300222

出　　处：《会计研究》2009年第3期79-85,共7页Accounting Research

摘　　要：会计信息披露是降低信息不对称的重要方式,柜台市场信息的不对称影响做市商的报价价差,从而影响市场的流动性。本文分别围绕会计信息披露对买卖价差的影响、会计信息披露对市场流动性的影响、会计信息披露与柜台市场有效性的关系三方面,对国外文献进行梳理和分析,并阐明会计信息披露对构建我国柜台市场的重要意义。The asymmetry of information in OTC markets exerts an impact on quote spreads by market makers,thus affecting market liquidity.Accounting information disclosure is an important means to mitigate the asymmetry of information.This paper sifts and analyzes foreign literatures on three aspects,namely the impact of accounting information disclosure on the bid-ask spread,its impact on the market liquidity,and the relationship between accounting information disclosure and the validity of OTC market.Furthermore,it clarifies the significance of accounting information disclosure to OTC markets in China.

关 键 词：柜台市场 买卖价差 会计信息披露 市场有效性 

分 类 号：F831.51[经济管理—金融学]