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上市公司信息违规披露与延伸思考——基于证监会2016—2021年稽查案例研究

INFORMATION DISCLOSURE OF LISTED COMPANIES IN VIOLATION OF REGULATIONS AND EXTENDED THINKING: BASED ON THE INSPECTION CASES OF CSRC FROM 2016 TO 2021

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【作者】 赵慧芬; 张存昕; 陈唯一;

【Author】 ZHAO Huifen;ZHANG Cunxin;CHEN Weiyi;School of Economics and Management, Henan Agricultural University;Wuhan Branch, Sichuan Languang Justbon Services Group Co., Ltd.;

【机构】 河南农业大学经济与管理学院; 四川嘉宝生活服务集团股份有限公司武汉分公司;

【摘要】 随着我国证券市场日益发展,上市公司越来越多,其所存在的问题也逐渐显现,其中信息违规披露问题备受社会各界关注。为了遏制信息违规披露行为,2020年3月新修订的《中华人民共和国证券法》直接将信息披露设为专章,这一举动凸显了信息披露的重要性。基于2016—2021年证监会稽查案例,对信息违规披露的A股上市公司,从地区和行业分布、违规行为与上市时长关系、违规类型等多方面进行归纳与分析,揭示A股上市公司信息违规披露的整体特征和趋势,讨论存在的问题,提出相应的对策建议。研究结果表明:近年来A股上市公司信息违规披露数量呈现隔年反弹状态,2020—2021年A股上市公司信息违规披露数量虽呈现连续下降趋势,但并未从根源上解决问题,未来仍需加大执法力度和违法成本。

【Abstract】 With the prosperity of China′s securities market, more and more enterprises listed, and the existing problems have gradually emerged. Among them, illegal disclosure of information has been concerned by all walks of life. In order to curb illegal disclosure, the new securities law implemented in March 2020 directly set information disclosure as a special chapter, which highlights the importance of information disclosure. Based on the 2016—2021 CSRC inspection cases, the research summarizes and analyzes the A-shares listed companies that disclose information violating regulations from multiple perspectives, such as regional and industry distribution, the relationship between violations and listing duration, and the types of violations. The research reveals the overall characteristics and trends of A-shares listed companies′ information disclosure violations, discusses the existing problems, and puts forward corresponding countermeasures and suggestions. The research results show that in recent years, the number of A-shares listed companies′ illegal information disclosures has rebounded every other year. Although the value of A-shares listed companies′ information violation disclosures showed a continuous downward trend from 2020 to 2021, some problems have not been solved fundamentally. So it is necessary to increase law enforcement and illegal costs.

  • 【文献出处】 河南工业大学学报(社会科学版) ,Journal of Henan University of Technology(Social Science Edition) , 编辑部邮箱 ,2022年03期
  • 【分类号】F275;F832.51;D922.287
  • 【下载频次】188
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