Correlation of Information Disclosure Quality and Performance of Listed Companies, as well as Performance of Securities Market

This paper selects listed companies at the Shenzhen Stock Exchange from 2005 to 2011 as samples, uses panel data from the Shenzhen Stock Exchange, such as information disclosure evaluation results, return on total assets, return on equity, Tobin Q value, earnings per share and other indicators, and makes the correlation research on information disclosure and business performance of listed companies, as well as market performance. This paper reached the conclusions as follows: the current year and last year's information disclosure quality has a weak positive correlation with the current year's business performance; there is no correlation between information disclosure quality of listed companies and performance of securities market.