摘要
本文对上市公司自愿披露盈利预测信息的动机、效果及制约因素进行了探讨。研究结果表明,自愿披露盈利预测信息在改善与投资者关系、降低筹资成本等方面具有积极作用,而盈利预测信息的供求结构、资本市场的竞争强度、信息披露成本以及经理人市场发展水平等因素制约着上市公司管理层披露盈利预测信息的意愿程度。最后对改进我国上市公司盈利预测自愿披露制度提出了建议。
This paper discusses the motives, results and restrictions of voluntary disclosure earnings forecast information to listed companies. The result of this study indicates, to listed companies, voluntary disclosures of earnings forecast play a positive role on improving the relation with investors and reducing funds cost, etc. Such factors as the structure between supply and demand of earnings forecast information, intensity of competition of the capital market, information disclosure cost and the development level of manager＇s market are restraining listing management teams from whether to disclosure the information of earnings forecast or not. Some proposals to the actual situation of China＇s listed companies are put forth to bring this article to an end.
出处
《预测》
CSSCI
2006年第3期28-32,共5页
Forecasting
关键词
盈利预测
自愿性披露
上市公司
披露
财务预测
earnings forecast
voluntary disclosure
listed company
disclosure
financial forecast
