文章基本信息

标题：Concept of Voluntary Information Disclosure and A Review of Relevant Studies
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作者：Yu Tian ; Jingliang Chen
期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2009
卷号：1
期号：2
页码：55
DOI：10.5539/ijef.v1n2P55
出版社：Canadian Center of Science and Education
摘要：Along with the economic development, the compulsory information disclosure of listed companies can not satisfy investors’ diversified information needs. The society advances higher requirements for listed companies’ information disclosure, which drives listed companies to disclose more information voluntarily. Recently, voluntary disclosure has gradually become a focus domestic and abroad because voluntary disclosure has positive impacts on the communication of corporate management agency and interests-related parties, the decrease of information asymmetry of investors, and the improvement of quality of disclosed information. On one hand, voluntary disclosure can detail and deepen compulsory disclosure, improving the credibility and completeness of compulsory disclosure. On the other hand, it can complement and expand the compulsory disclosure, for the sake of realizing the more complete, diversified, and systematic information disclosure. Therefore, the voluntary disclosure serves as an effective way for communicating interest-related parties and describing the corporate prospect. It is meaningful for perfecting listed companies’ governance structure and enhancing the protection for investors’ interests.