创业板上市公司风险信息披露分析-会计学专业论文.docxVIP

摘 要 风险信息披露一直是监管机构和投资者共同关注的问题之一，而且创业板上市公 司多为高科技、高成长性的企业，其往往具有业绩不稳定、经营风险高等特点，证监 会据此也发布了适应创业板上市公司特点的披露内容和披露标准，以充分披露上市公 司的风险信息。 对于创业板上市公司风险信息披露，其上市时的招股说明书和上市后每年披露的 年报提供了显性的风险内容，本文就基于内容分析法首先对其中披露的风险信息部分 进行了剖析，主要从内容和实质两方面入手。第一，对上市公司招股说明书及年报的 风险信息部分的规范性程度进行分析，分析其披露形式及内容是否符合证监会规定的 披露标准；第二，文章旨在分析作为风险信息披露载体的招股说明书和年报对投资者 的引导作用，其披露的风险信息是否影响到投资者进行投资决策，即分析其风险信息 披露的质量。通过上述分析，发现创业板上市公司的招股说明书和年报的风险信息披 露在形式和内容上正日趋完善，但仍有一些问题有待解决；而在其实际的披露质量上， 风险信息并没有对投资者的决策产生重要影响，质量不高。文章在这些分析的基础上， 提出了相应的改进建议。 关键词： 创业板 风险信息 内容分析法 披露质量 Abstract Abstract Risk disclosure has been one of the issues for regulators and investors. Most companies listed on GEM are high-tech and high-growth companies, usually characterized with unstable performance and high operational risks. Accordingly, disclosure contents and standards congruous with the features of GEM companies are released by the Commission to fully disclose the risk information of listed companies. Explicit disclosure information of GEM listed company is presented in the listing prospectus and annual reports. This paper, based on the content analysis method, analyzes the disclosed risk information from two aspects, namely the content and the essence. Firstly, analysis is conducted on the normative degree of risk information offered by the corporation prospectus to evaluate whether the disclosure form and contents meet the requirements of the Commission disclosure standards. However, by now the Commission has not proposed a unified disclosure standard specified to the annual report. Thus its normality is not discussed in this thesis. Secondly, the thesis aims to analyze whether the prospectus and annual reports, as a source to disclose risk information, affect the investment choices of investors or in other words, the quality of disclosure information. Through the above analysis, it is found that great progress is made in the form and content of corporate information disclosure prospectus. However, there still exist some problems to be solved. The risk in