证券市场信息披露保证机制及其创新研究

【作者】 刘迈程；

【导师】 刘冬荣；

【作者基本信息】 中南大学 ， 管理科学与工程， 2003， 硕士

【摘要】 为了实现证券市场对社会全体资源进行合理配置的特定功能，建立信息披露保证机制，提高上市公司信息披露的真实性，本文运用博弈论的分析方法，对上市公司虚假信息披露的动机及其抑制条件进行了分析，并以此为依据提出信息披露保证机制的构成框架及其运作原理，然后对保证机制中各项内容在现有体制下失效的原因进行了分析，并针对这些原因提出了创新的建议。 全文共分四章。第一章运用信息不对称理论和博弈论，阐述了证券市场信息披露的必要性，得出如何抑制上市公司虚假披露动机的判断；第二章以第一章的结论为依据，做出了信息披露保证机制的构成图，其中包括独立审计制度、政府监管机制、法律制度、信誉机制和媒体监督机制五项内容，并逐个阐述这些内容的运作原理：第三章在分析证券市场信息披露现状的基础上，分析了保证机制中各项内容在现有体制下失效的种种原因；第四章根据第三章的结论，提出了具体的创新建议。更多还原

【Abstract】 In order to fulfill the securities market’s particular function of distributing all social resources reasonably and effectively, establish an information exposure guaranteed system and enhance the authenticity of list companies’ information exposure, on the basis of game theory, this paper analyzes the list companies’ motives and restriction conditions of false information exposure. And the same time, the paper points out the structure of information exposure guaranteed system and the principle how this system takes effect. Finally, the paper analyzes why each sub-system of guaranteed system abates and puts forward some creative suggestions respectively.The whole paper makes up of four chapters. Chapter 1 discusses the necessity of securities market information exposure and comes to a conclusion how to restrain the motives of list companies’ false information exposure. Chapter 2 deduces the chart of the information exposure guaranteed system structure .Then it discusses how the system takes effect in detail according to the conclusion of chapter 1. The guaranteed system includes five sub systems as follow: inclusively audit system, government supervision system, law system, credit system and media supervision system. Chapter 3 analyses all sorts of reasons why each sub-system of guaranteed system abates. Chapter 4 puts forward some corresponding creative suggestions according to the conclusion of chapter 3.更多还原