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Disclosure delay and financial distress prediction: based on Chinese annual reports disclosure system

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  • Zi Nie
  • Lina Yan
  • Zhitao Wang
  • Bingcheng Li

Abstract

Based on the data of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, we explore the impact of delayed disclosure of annual report on the accuracy of financial distress prediction. We find that the information of disclosure delay can significantly improve the accuracy of financial distress prediction. After using alternative measurement of the disclosure delay and considering the endogeneity problem, our conclusions are robust. Our study provides reference for regulatory authorities to standardize the companies’ disclosure behaviours and prevent and resolve their major risks.

Suggested Citation

  • Zi Nie & Lina Yan & Zhitao Wang & Bingcheng Li, 2023. "Disclosure delay and financial distress prediction: based on Chinese annual reports disclosure system," Applied Economics Letters, Taylor & Francis Journals, vol. 30(15), pages 2098-2101, September.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:15:p:2098-2101
    DOI: 10.1080/13504851.2022.2094314
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