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Impact Path of Information Disclosure Violations on Corporate Risk: A Case Study on Sunflower Pharmaceutical

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Impact Path of Information Disclosure Violations on Corporate Risk: A Case Study on Sunflower Pharmaceutical


Zhang Beiheng



Zhang Beiheng "Impact Path of Information Disclosure Violations on Corporate Risk: A Case Study on Sunflower Pharmaceutical" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-5, October 2023, pp.879-886, URL: https://www.ijtsrd.com/papers/ijtsrd60068.pdf

Information disclosure is the lifeline of capital markets, and violations of information disclosure can bring both external and internal risks to companies. This article takes Sunflower Pharmaceutical as an example, conducts a specific analysis of corporate information disclosure violations in accordance with the Securities Law, uses event study methodology to compare the abnormal returns of the company before and after information disclosure violations, explores the resulting external risks, and combines it with a thorough four-dimensional analysis to study the internal risks brought about by information disclosure violations. The research results indicate that information disclosure violations can lead to a crisis of investor trust, resulting in a sharp decline in stock prices when negative events occur, exacerbating external risks. Furthermore, information disclosure violations can damage a company's reputation, significantly reducing its competitive advantage in the market, intensifying internal risks. The impact path is mainly transmitted through the following channels: "Information Disclosure Violations ? Aggravated Information Asymmetry ? Investor Trust Crisis ? Increased External Risks "and" Information Disclosure Violations ? Damaged Corporate Reputation ? Significant Reduction in Competitive Advantage ? Intensified Internal Risks."

information disclosure, corporate risk, information asymmetry, corporate reputation, Sunflower Pharmaceutical


IJTSRD60068
Volume-7 | Issue-5, October 2023
879-886
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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