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上市公司年度报告作为投资者决策的重要信息之一,其及时性受到了监管部门和研究者的关注。本文通过对我国上市公司2003～2005年间公布的432份年度报告披露时间进行多元回归分析后发现,年报披露及时性受审计意见类型、公司是否盈利、外资股发行及第一大股东持股量的影响,且年报披露及时性整体较差。建议相关部门应加强对公司年报披露及时性的监管。
The annual reports of listed companies as one of the important information for investors’ decision-making, the timelyness of which has attracted the attention of regulatory authorities and researchers. Through the multiple regression analysis of the disclosures of 432 annual reports released by listed companies in China between 2003 and 2005, this paper finds that the timely disclosure of annual reports is influenced by the types of audited opinions, whether the company is profitable, the issuance of foreign capital shares and the shareholding of the largest shareholder Impact, and the overall timeliness of annual report disclosure is poor. Relevant departments should be recommended to strengthen the disclosure of timely disclosure of the company’s annual report.