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随着我国资本市场的不断发展与成熟,在强制性信息披露制度已无法满足投资者需求的情况下,可提高信息披露质量的自愿性信息披露制度被广泛要求。本文运用经济主体行为最优化与信息经济学方法,论证上市公司采取信息公开、分离策略或信息掩饰策略,进行完全性信息披露、部分性信息披露、信息非披露的价值均衡过程。从信息经济学角度解析上市公司自愿性信息披露的机制。
With the constant development and maturity of the capital market in our country, the voluntary information disclosure system that can improve the quality of information disclosure is widely demanded in the situation that the mandatory information disclosure system can not meet the needs of investors. In this paper, the main body of the economic behavior optimization and information economics methods, listed companies to take information disclosure, separation strategy or information disguise strategy, complete information disclosure, partial information disclosure, information disclosure of the value of the process of non-disclosure. Analyze the Mechanism of Voluntary Disclosure by Listed Companies from the Perspective of Information Economics.