Title: Conversion from Voluntary Disclosure to Mandatory Disclosure of Efficiency and Fairness Oriented Internal Control Information Disclosure
Abstract: Since the Act of Sarbanes-Oxley was issued in the United States,Listed companies have changed the internal control information disclosure from voluntary disclosure to mandatory disclosure.In China,five national Ministries co-declared the Basic Code of Corporation Internal Control' in 2008,requiring Chinese listed companies adopt the mandatory information disclosure of internal control.Using economic theory of Fairness Efficiency,this paper intends to analyze why the change,i.e.from voluntary disclosure to mandatory disclosure.After analysis,this paper concludes that information disclosure conversion is a reaction to stress the fairness of capital market.
Publication Year: 2011
Publication Date: 2011-01-01
Language: en
Type: article
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