本文选取2001～2003年间的深沪A股证券市场上市公司年报数据。在495家深市上市公司中,观察到240家公司325份补充更正公告,在805家沪市上市公司中,观察到226家公司294份补充更正公告。数据来源:中国证监会指定信息披露网站,巨潮咨讯(www.cninfo.com.cn)。2001年是我国深沪A股上 This paper selects the annual reports of listed companies in Shenzhen and Shanghai A-share market between 2001 and 2003. Among the 495 listed companies in Shenzhen, 325 supplemental corrections announcements were observed for 240 companies. Out of 805 listed companies in Shanghai, 294 supplementary corrections were observed for 226 companies. Source: China Securities Regulatory Commission designated information disclosure website, www.cninfo.com.cn. 2001 is China’s Shenzhen and Shanghai A shares