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| 摘要: |
| 我国对管理层讨论与分析（MD＆A）不仅理论研究较少，而且实践上也无法对其进行有效的监控，导致目前上市公司对MD＆A信息的披露极不规范，影响到了资本市场的发展。根据对223家深沪上市公司的分析，我国年报中MD＆A信息披露程度较低；虽然资本的竞争性正促使我国公司进行更多的MD＆A信息披露，但仍存在一些阻碍因素；我国公司MD＆A信息披露与高管激励显著相关。 |
| 关键词: 管理层讨论与分析 信息披露 线性回归 |
| DOI： |
| 分类号:F275.5 |
| 基金项目: |
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| An empirical analysis of management discussion and analysis disclosure |
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LIU Jia-song WANG Hui-fang
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| Abstract: |
| There are few theoretical studies on Management Discussion and Analysis(MD&A) and in practice it is hard to be monitored, which causes that the disclosure of MD&A information is not standardized and affects the development of capital market.According to the analysis of 223 listed companies at Shanghai and Shenzhen,this paper finds that MD&A disclosure level is low in annual report.Although the competition of capital improves the information disclosure of MD&A of China,there are still restriction factors.China's company MD&A information disclosure is related to management level encouragement. |
| Key words: Management Discussion and Analysis(MD&A),information disclosure,linear regression |
