Analyst coverage, executive compensation and the quality of information disclosure: Evidence from Shenzhen Stock Exchange

摘要

This article investigates the moderating effect of analyst coverage on the relationship between executive compensation and the quality of information disclosure. Based on a sample of 2075 Chinese listed enterprises on Shenzhen Stock Exchange from 2010 to 2014, we find that management compensation is positively related to the quality of information disclosure. In addition, our results indicate that the positive effect between management disclosure and company performance is stronger for companies with analyst coverage. Compared with non-state owned companies, the positive relationship between the executive compensation and the quality of information disclosure is more significant in state-owned companies.