上市公司信息披露外文翻译--一个自愿性信息披露与我国上市公司监管问题的研究体系(编辑修改稿)

上市公司信息披露外文翻译--一个自愿性信息披露与我国上市公司监管问题的研究体系(编辑修改稿)内容摘要：

ow. Therefore, Chinese voluntary disclosure of information is worthy of paying attention and needs to be solved. 4. Improve Supervision System of Voluntary information Disclosure in listed panies As growing petition of capital in the market and the gradually standardization of legal system, there will be a growing trend of voluntary information disclosure for adapt with the plex and everchanging and highly uncertain economic environment. For the problems existing in Chinese listed panies voluntary information disclosure, and learning from the practical experience on foreign listed panies, the author makes the following remendations: Actively encourage and protect listed panies voluntarily disclose information With the gradually maturation of Chinese capital market, on the basis of the management pany pleting the mandatory disclosure of information provided voluntary disclosure of information. Therefore, the regulatorydepartments should encourage listed panies to voluntary disclosure of information, add clauses in the policies and regulations, encourage listed panies to disclose the voluntary information besides existing laws, regulations and rules, meet the investors’ growing demands. At the same time, in order to avoid some of the pany39。 s management should not be faced litigation risk and other problems, regulators need to study and formulate relevant policies for the pany39。 s voluntary disclosure of information act to protect them. Deliberate manipulation and accidental factors belong to different nature of the situations and treat them differently. It should investigate the law liability to parties in the first case. Otherwise, only the listed panies have adequate evidences and can explain reasonably, don’t look into their liability. Strengthen supervising and managing prevent to disclose the false information at will and protect the market order Once the voluntary disclosure information published, it must accept the essential surveillance and the restraint equally with the pulsory disclosure information. But voluntary information disclosure is still lack essential surveillance rules currently, should establish a set of voluntary information disclosure supervising and managing system, standard voluntary information quality. For example: to establish voluntary information assurance and pensation system, to perform the heavy fine to the enterprise which misleads the investor and so on. The negotiable securities supervising and managing department and the Exchanges should strengthen supervising and managing to voluntary information disclosure market, prevent to disclose the false information at will, protects the market order. The voluntary information disclosure supervising and managing should contain following several aspects: First, integrity, listed panies voluntarily disclose of the information are both positive information, also includes the negative information。 Second, systemic, whether listed panies from different angles, through various information disclosure to reveal the same, whether formed a distinctive pattern of voluntary disclosure of information。 Third, dynamic, longterm voluntary listed panies to disclose certain information, and constantly adjusted to improve the reliability of information。 Fourth, widespread, as long as all investors equal access to all listed panies to voluntarily disclose information。 Fifth, the parative, whether the pulsory information disclosure is mandatory or not, it can be the standards of judgment for the quality of reference standards. Giving full attention to the role of market intermediaries to establish the authority of the disclosure of pany information quality evaluation system Listed panies should strengthen munication with institutional investors, brokers, securities analysts and other market intermediaries. Understanding the pany39。 s external information needs to reduce the pany39。 s asymmetric information through voluntary disclosure of information. Giving full attention to the role of market ntermediaries, establish the listed pany disclosure information quality evaluation system by market intermediar。