CAJ | 학술논문

基于公司信息透明度影响因素的现有研究，本文选择公司治理结构、股权结构、经营状况方面的12个指标构建公司信息透明度评价模型。在实证研究方面选取深交所38家房地产上市公司作为样本，运用主成分分析法将12个指标降维成6个主成分，用熵权法对6个主成分进行赋权，计算出样本公司信息透明度得分。研究结果表明房地产公司的营运和成长能力以及内部控制结构均对信息透明度影响显著，而公司财务杠杆和两权分离度的影响效应相对较弱。
기우공사신식투명도영향인소적현유연구，본문선택공사치리결구、고권결구、경영상황방면적12개지표구건공사신식투명도평개모형。재실증연구방면선취심교소38가방지산상시공사작위양본，운용주성분분석법장12개지표강유성6개주성분，용적권법대6개주성분진행부권，계산출양본공사신식투명도득분。연구결과표명방지산공사적영운화성장능력이급내부공제결구균대신식투명도영향현저，이공사재무강간화량권분리도적영향효응상대교약。
Aiming to establish a model for assessing corporate information transparency, this paper selects 12 indicators related to corporate governance structure, stocks ownership structure and operates conditions based on the extant studies about factors affecting information transparency. For empirical analysis, it chooses 38 real estate companies listed in the Sbenzhen Stock Exchange as the sample, and reduces the dimension of 12 indicators to 6 prindpal components by Principal Component Analysis. Then 6 principal components is weighted by Entropy Method, it thus achieves the score of corporate information transparency for all sample companies. The empirical analysis results show that operating capacity and internal control system have significant effect on real estate company＇s information tramparency, while financial leverage and the separating extent d ownership and controlling right have less effect.