上市公司价值信息披露及市场反应分析-企业管理专业论文.docxVIP

上市公司价值信息披露及市场反应研究 上市公司价值信息披露及市场反应研究 IV IV rate as the variable to measure the market reaction, and compare the market reaction of two groups of samples in the same cross section, which have different disclosure level of value information. Secondly, the paper used the intrinsic value per share as the index to measure coporate value, and chose the company value as the variable to measure the effect of enterprise value information disclosure. It established the multivariate regression model to analyze the relationship and its significant degree between the level of enterprise value information disclosure and the intrinsic value per share, in order to discuss the relationship between the level of value information disclosure and enterprise value as well as verifying whether the information disclosure can help promoting the value of corporate value. According to the empirical analysis on the market reaction of the listed company value information disclosure, it found that different levels of value information disclosure would cause significant different degree of market reaction. It come to a conclusion that different levels of value information disclosure can affect the investors’ behavior. It also can alleviate information asymmetry between information supply and demand, and help to improve the relationship between the investors and agent. In addition, it come to a conclusion from the multivariate regression analysis that it has a positive impact on promoting enterprise value whether the listed company increasing the quantity of disclosure of value information or improving the quality of disclosure of value information.Nevertheless, the general level of value information disclosure of Chinese listed companies is still need to be enhanced. It urgently need to structure a perfect value information disclosure system and strengthen the supervision to disclose behavior of the listed companies. Therefore, the fourth chapter of this paper puts forward related suggestions from