The Empirical Research on Voluntary Disclosure In China's Listed Companies Based on the Framework of Enterprise Value Reporting

This paper builds the index of voluntary disclosure based on the core idea of enterprise value reporting,and then according to annual reporting of listed companies during 2009to 2011,it makes an empirical test on the relationship between the factors of the corporations and voluntary disclosure,financial disclosure,nonfinancial disclosure and strategy disclosure.It details and enriches the research of voluntary disclosure.The research shows that the SIZE,ROE,extent of managerial ownership are positively associated with voluntary disclosure,the times of board meeting is negatively associated with voluntary disclosure,the extent of institutional investors insignificantly correlates with the total level of voluntary disclosure,but is negatively associated with the level of financial voluntary disclosure and strategy voluntary disclosure.