A Study on Short-Term Value Effect of the Voluntary Disclosure
By selecting 173 listed companies in Shenzhen Stock Exchange as research samples,we use event study and regression model to test the short-run share price value effect of the voluntary disclosure.The results show that in 2005 and 2006 the CAAR_H is obviously bigger than that of the CAAR_L,but in 2007 the difference is not so obvious.There is a positive relationship between independent directors and voluntary disclosure,this means that voluntary disclosure has some information content and it could affect the investor's behaviors.This proves the short-run share price value effect of the voluntary disclosure.
Taiwan's cultural performance and exhibition facilities industry still has considerable capacity for development. The public sector has the output estimate based on the combination of the output and input statistics together. In this case, the problem of duplicate calculation cannot be avoided and the resulting "all-encompassing" expenditure subsidy will not generate maximum economic benefit either. This article proposes to use the methods advocated by Fritz Machlup, Michael Rogers Rubin, Mary Taylor Huber and Elizabeth Lloyd Taylor. That is, from the sources of expenditure side, total output, and set up I-O Table to verify the maximum economic chain effect industry on a forward and backward basis to assist the public sector in focusing on the core development and to use this a reference point for guidance.