CAJ | 학술논문

信息披露质量是投资者利益保护、维持资本市场健康发展的关键因素。文章根据2003-2009年深交所上市公司数据,考察了管理层权力与信息披露质量之间的关系。研究结果发现,管理层＂正＂向权力同信息披露质量呈负相关关系,管理层＂负＂向权力同信息披露质量呈正相关关系。因此,要解决信息披露失真问题,应该从合理安排管理层权力入手。
신식피로질량시투자자이익보호、유지자본시장건강발전적관건인소。문장근거2003-2009년심교소상시공사수거,고찰료관리층권력여신식피로질량지간적관계。연구결과발현,관리층＂정＂향권력동신식피로질량정부상관관계,관리층＂부＂향권력동신식피로질량정정상관관계。인차,요해결신식피로실진문제,응해종합리안배관리층권력입수。
Information disclosure quality is the key factor of protecting investor＇s interests and maintaining the healthy development of the capital market.In the article the relationship between managerial power and information disclosure quality is investigated according to the data of the listed companies of Shenzhen Stock Exchange in the period of from 2003 to 2009.The research discovers that the ＂positive＂ power of management is negatively related with information disclosure quality and the ＂negative＂ power is positively related with information disclosure quality.Therefore,the proper arrangement of managerial power is very important for solving the distortion problem of information disclosure.