Proceedings of the 2017 International Conference on Economics, Finance and Statistics (ICEFS 2017)

Empirical Study on the Impact of Information Disclosure Quality on Listed Companies' Value

Authors
Dongwu Niu, Heng Ma
Corresponding Author
Dongwu Niu
Available Online January 2017.
DOI
https://doi.org/10.2991/icefs-17.2017.15How to use a DOI?
Keywords
Information Disclosure Quality, Listed Company, Company Value, Tobin's Q.
Abstract
Firstly, this paper analyzes the information disclosure status of A-share listed companies in Shenzhen Stock Exchange. Through the statistics and analysis of information disclosure assessment results, it finds out that the information disclosure level of listed companies has been obviously improved. This result shows that relevant rules and regulations of information disclosure implemented in recent years played a certain role. Secondly, using the data from 2013 to 2015 as a sample, taking Tobin's Q value as the surrogate variable of the company's value, the assessment result of the Shenzhen Stock Exchange's information disclosure as the substitute variable of the information disclosure quality, introducing the relevant control variables, establishing regression model to empirically analyze the impact of quality of information disclosure on enterprise value. The results indicate that the quality of information disclosure of listed companies has a positive correlation with the value of the company.
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Proceedings
2017 International Conference on Economics, Finance and Statistics (ICEFS 2017)
Part of series
Advances in Economics, Business and Management Research
Publication Date
January 2017
ISBN
978-94-6252-311-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/icefs-17.2017.15How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Dongwu Niu
AU  - Heng Ma
PY  - 2017/01
DA  - 2017/01
TI  - Empirical Study on the Impact of Information Disclosure Quality on Listed Companies' Value
BT  - 2017 International Conference on Economics, Finance and Statistics (ICEFS 2017)
PB  - Atlantis Press
SP  - 177
EP  - 183
SN  - 2352-5428
UR  - https://doi.org/10.2991/icefs-17.2017.15
DO  - https://doi.org/10.2991/icefs-17.2017.15
ID  - Niu2017/01
ER  -