Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share
The quality of information disclosure has always been a hot issue in the academic field. Based on MM theory, trade-off theory, the efficient market hypothesis, information asymmetry theory, pecking order theory, and principal-agent theory, this research chose Shenzhen A share mainboard data from 200...
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2022
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| Online Access: | https://eprints.nottingham.ac.uk/71282/ |
| _version_ | 1848800658515296256 |
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| author | Lai, Yangyang |
| author_facet | Lai, Yangyang |
| author_sort | Lai, Yangyang |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The quality of information disclosure has always been a hot issue in the academic field. Based on MM theory, trade-off theory, the efficient market hypothesis, information asymmetry theory, pecking order theory, and principal-agent theory, this research chose Shenzhen A share mainboard data from 2005 to 2019 as samples, using the DID model to have empirical research to find the relationship between quality of information disclosure and firms’ financial risk. This paper selected 251 manufacturing companies and 41 real estate companies and tested the effect of the implementation of information disclosure policies on the reduction of corporate financial risks.
From this research, it could be found that enhancing the quality of information disclosure could influence on the capital structure of firms, and further affect the financial risk of enterprises. Therefore, this paper believed that both Chinese listed companies and Chinese regulatory authorities should attach importance to information disclosure. Firms and regulators should improve the information disclosure quality to optimize firms’ capital structure, monitor and prevent corporate financial risks. This paper put forward corresponding policy suggestions for listed companies and regulatory agencies and summarized the limitations and shortcomings of this research. |
| first_indexed | 2025-11-14T20:55:04Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-71282 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:55:04Z |
| publishDate | 2022 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-712822023-07-07T13:28:59Z https://eprints.nottingham.ac.uk/71282/ Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share Lai, Yangyang The quality of information disclosure has always been a hot issue in the academic field. Based on MM theory, trade-off theory, the efficient market hypothesis, information asymmetry theory, pecking order theory, and principal-agent theory, this research chose Shenzhen A share mainboard data from 2005 to 2019 as samples, using the DID model to have empirical research to find the relationship between quality of information disclosure and firms’ financial risk. This paper selected 251 manufacturing companies and 41 real estate companies and tested the effect of the implementation of information disclosure policies on the reduction of corporate financial risks. From this research, it could be found that enhancing the quality of information disclosure could influence on the capital structure of firms, and further affect the financial risk of enterprises. Therefore, this paper believed that both Chinese listed companies and Chinese regulatory authorities should attach importance to information disclosure. Firms and regulators should improve the information disclosure quality to optimize firms’ capital structure, monitor and prevent corporate financial risks. This paper put forward corresponding policy suggestions for listed companies and regulatory agencies and summarized the limitations and shortcomings of this research. 2022 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/71282/1/20401334_BUSI4020_2021_22.pdf Lai, Yangyang (2022) Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share. [Dissertation (University of Nottingham only)] Financial risk information disclosure capital structure Shenzhen A share |
| spellingShingle | Financial risk information disclosure capital structure Shenzhen A share Lai, Yangyang Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title | Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title_full | Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title_fullStr | Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title_full_unstemmed | Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title_short | Relationship between Information Disclosure Quality and Financial Risk: Evidence from Shenzhen A-share |
| title_sort | relationship between information disclosure quality and financial risk: evidence from shenzhen a-share |
| topic | Financial risk information disclosure capital structure Shenzhen A share |
| url | https://eprints.nottingham.ac.uk/71282/ |