The Research of the Impact of Corporate Governance to Listed Companies' Quality of Information Disclosure

The quality of information disclosure is an important basis of judging the listed company's operation, also the important index of measuring the effective operation of the securities market. However information disclosure is still our listed enterprises' huge problem. The quality of the information disclosure has a lot of influence factors, the company governance is the important aspects. This article selects the data of listed manufacturing company of the mainboard of Shenzhen Stock Exchange A shares from 2006 to 2010 as samples, using empirical analysis, research the relationship between listed company information disclosure quality and corporate governance. Research result shows that the proportion of the independent directors, the first large circulation shareholders, the board of directors and board of supervisors have positive correlation with the quality of information disclosure. Especially increasing the proportion of independent directors can pro:mote the improvement of the quality of information disclosure significantly. And both oneness and shareholding ratio of executives have negatively correlation with the quality of information disclosure.