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Statistical Model for Personal Characteristics of and Quality of Information Disclosure

Yueming Zeng, Tengfei Lu, Wenli Tang


As the data shows, among listed companies on the main board of the Shenzhen Stock Exchange in China, the proportion of administrative posts who also serve as independent directors has been more than one-third in 2011, and the proportion of female independent directors is on the low side. This paper attempts to verify whether these two personal characteristics of independent directors affect the quality of information disclosure in listed companies in China. The sample was selected from the main board of the Shenzhen Stock Exchange during the period 2010 – 2011. Multivariate logistic regression method is employed in the study. The result indicates that independent directors with administrative posts have no impact on the quality of information disclosure in listed companies while the female independent directors’ influence on improving the quality of information disclosure is inconsistent.


independent directors with administrative posts, female independent directors, information disclosure quality of listed companies.

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