公司绩效、财务风险与年报披露及时性的相关性研究——来自我国能源类上市公司的证据

以沪深两市能源类102家A股上市公司2004~2006年间306组观测值为对象,研究公司绩效、财务风险与信息披露及时性之间的关系。研究结果表明,公司绩效和年报披露及时性显著正相关;财务风险和年报披露及时性显著负相关;财务风险能通过公司绩效影响年报披露及时性;财务风险会对公司绩效和年报披露及时性的关系产生明显的扰动作用。

Corporate Performance, Financial Risk and Timeliness of Annual Report:Evidence from Chinese Energy Listed Companies

Using the data of 102 Chinese energy listed companies in Shanghai and Shenzhen Stock Exchange during 2004 to 2006,the empirical study shows that: corporate performance has a significant positive correlation with timeliness of annual report;financial risk significantly positive correlates with timeliness of annual report;financial risk has a further influence on timeliness of annual report through corporate performance,which is an intermediary variable;financial risk also interferes the relationship between corporate performance and timeliness of annual report.