自愿信息披露并非强制性的信息披露,因此上市公司具有较强的自主性。通过研究,我们发现,上市公司选择不同的自愿信息披露策略对于公司有着较大影响,本文通过一个三阶段模型研究来在披露及不披露两种策略下自愿信息披露对于公司的影响。 Voluntary information disclosure is not mandatory information disclosure, so listed companies have strong autonomy. Through the research, we find that the listed companies choose different voluntary information disclosure strategies have a greater impact on the company, this paper through a three-stage model to disclosure and non-disclosure of the two strategies of voluntary disclosure of information on the impact of the company.