Legal Liability for Information Disclosure by Independent Directors of Listed Companies
This article examines the ongoing evolution of the information disclosure. Objection system within listed Chinese companies, placing particular emphasis on the administrative responsibilities of independent directors. Given the changes in legislation and regulations, a case study analysis has undert...
| Authors: | ; |
|---|---|
| Format: | Electronic Article |
| Language: | English |
| Published: |
2024
|
| In: |
International journal of criminal justice sciences
Year: 2024, Volume: 19, Issue: 1, Pages: 259-270 |
| Online Access: |
Volltext (kostenfrei) |
| Check availability: | HBZ Gateway |
| Keywords: |
| Summary: | This article examines the ongoing evolution of the information disclosure. Objection system within listed Chinese companies, placing particular emphasis on the administrative responsibilities of independent directors. Given the changes in legislation and regulations, a case study analysis has undertaken to evaluate the effectiveness of truthful information disclosure that presents a fair, comprehensive, and accurate portrayal of corporate affairs. A central issue in this context is the ambiguity surrounding the responsibilities and liabilities of independent directors, including the potential for their prosecution in cases of discrepancies in the disclosed information. Addressing this issue necessitates a nuanced understanding of the legal frameworks, institutional mechanisms, and corporate governance practices that constitute the information disclosure environment. This paper employs a structured meta-analysis alongside an exploration of corporate governance in China to investigate various dimensions of the information disclosure objection and its implications for corporate governance in the country. Methodologically, the research adopts a multi-faceted approach, encompassing legal analysis, regulatory assessment, and case study examination. By scrutinising the effectiveness of the standardised objection systems and exemption clauses, the study offers recommendations for essential reforms aimed at enhancing transparency, accountability, and investor protection. The findings underscore the importance of high legal standards, robust enforcement, and effective governance in cultivating an environment conducive to the development of markets for sustainable capital. |
|---|---|
| ISSN: | 0973-5089 |
