【摘要】 针对Verrechia模型研究的市场结构和未考虑相关影响自愿性披露因素的局限性,本文通过引入产品市场竞争度,对Verrechia模型进行修正,并考察产品市场竞争度对自愿性披露临界水平及披露概率的影响。研究发现:产品市场竞争同临界水平呈反相关关系,同披露概率呈正相关关系。同时,对上述研究结论运用我国上市公司数据进行了实证检验。这一研究结论为上市公司自愿性披露决策和监管机构监管提供了理论和实践支持。更多还原

【Abstract】 According to Verrechia model deficiency of market structure research field and not considering factors influencing voluntary disclosure,this article revised Verrecchia model through introducing the competition level under product markets,and analysed effect of the competition level on the threshold level of voluntary disclosure and probability of companies’ voluntary disclosure.Through inferring the model,we concluded: Competition in product markets was negatively related to the threshold level and positively related to disclosure probability.Contemporarily,we empirically analysed this conclusion.This research conclusion afforded theory and practice sustain for listed companies and regulators.更多还原