Voluntary disclosure in a changing regulatory environment : evidence from Chinese stock market
Qu, Wen, Cooper, Barry J., Wise, Victoria and Leung, Philomena 2012, Voluntary disclosure in a changing regulatory environment : evidence from Chinese stock market, International journal of economics and finance, vol. 4, no. 4, pp. 30-43.
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This paper investigates the voluntary disclosure made by 297 Chinese listed firms in their 1995-2006 annual reports. It aims to determine how firms in the Chinese stock market have responded to the coercive pressure exerted upon them by the market regulatory body, the Chinese Security Regulatory Commission (CSRC) in terms of providing transparent information to the stock market. The findings show that over the study period, listed firms have gradually increased their voluntary disclosure. This paper also explores the main characteristics of voluntary disclosure made by listed firms in the Chinese stock market. It is concluded that voluntary disclosure has been adopted by firms to achieve institutional legitimacy in the stock market.
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Field of Research
150104 International Accounting
Socio Economic Objective
919999 Economic Framework not elsewhere classified
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