An Analysis on the Distortion of the Accounting Information Disclosure of Listed Companies Based on Game Theory
Zhiqiang Li · Economic Survey · 2006
The author finds the primary reasons for the distortion of information disclosure through a game theory analysis and suggest that the distortion of accounting information disclosure in securities market results from the conflict between different players. They all start from their individual rationality to search for the maximization of personal utility. The real destination is surely not the group rationality. Based on these, the aim of administrating the problem, Nash equilibrium, and its concrete contents are presented in this paper.