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《Journal of Industrial Technological Economics》 2018-07
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The Disclosure and Correction of Internal Control Weakness,Market Reaction and Informativeness of Earnings

Zhou Jianan;Yuan Yujia;School of Economic and Management,Southwest Jiaotong University;  
This paper uses the data from the main band listed companies in Shanghai and Shenzhen Stock Exchanges that disclosed internal control weakness mandatorily from 2013 to 2016,from the perspectives of the disclosure of different form internal control weakness,the correction of internal control weakness,and the correction of different form internal control weakness,empirically tests the impact on market reaction and informativeness of earnings. It finds that comparing with other form internal control weakness,the internal control weakness about financial reporting can lead to a more significant negative market reaction,and reduce informativeness of earnings. Considering the influence of inter-temporal internal control weakness,the correction of internal control weakness has a positive effect,and it can lead to a positive market reaction. In addition,correcting the internal control weakness about financial reporting can lead to a more significant positive market reaction,and improve informativeness of earnings.
【CateGory Index】: F275;F832.51
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