⑴招股說明書過度包裝造成盈利預測偏差嚴重。 ⑴ prospectus profit forecast over-packaging creates a serious bias. 如1997年在全國國有企業凈資產收益率平均不足7％ 的情況下，新上市公司的招股說明書披露的前三年資產收益率普遍達到40％ 以上，有的公司竟然達到100％，很顯然新上市公司的凈資產收益率中有不少水分。 Such as the 1997 state-owned enterprises in the country the average net assets yield less than 7% of cases, the new prospectus disclosure of listed companies of the first three years of return on assets generally 40% or more, some companies has reached 100%, clearly the new Net assets of listed companies have a lot of water yield.
⑵模糊收入概念，人為操縱利潤。 ⑵ fuzzy concept of income, profit manipulation. 有的公司將含稅收入放入會計報表對外報出，導致對外報出利潤與真實利潤相差甚遠；有的公司根據使用對象來公布收入。 Some companies will be tax revenue into the financial statements of foreign quote, resulting in a profit of foreign reporting falls far short of the real profits; some companies to disclose their income according to use objects. 如青島雙星旗下的華青輪胎2002年經營數據有四個版本，真假難辯。 If a unit of China, Qingdao Double Star Tire in 2002 Green has four versions of operating data, real Nanbian.
⑶偽造資產、虛構利潤，以達到吸引投資者的目的。 ⑶ fake assets, fictitious profits to attract more investors.
2． 2. 上市公司信息披露不充分、不完整。 Insufficient information disclosure of listed companies, incomplete.
3． 3. 上市公司信息披露缺乏時效性。 Lack of information disclosure of listed companies timeliness.
4． 4. 信息披露具有隨意性5． Disclosure of information with random 5. 信息披露的非主動性二、信息披露存在問題的成因分析(壹) 上市公司自身的內在原因。 Initiative of two non-disclosure, disclosure of the causes of problems (a) of the listed company's own internal reasons. 主要包括： Include:
第壹，公司利益的推動。 First, the company's interests to promote.
第二，公司股東的產權約束弱化第三，公司內部缺乏自我約束和監督機制(二) 信息披露存在問題的外在原因1． The second, shareholders third weakening of property rights constraints, lack of self-discipline and internal monitoring mechanisms (b) disclosure of the external causes of problems 1. 會計法制不健全2． Accounting legal system is not perfect 2. 上市公司質量普遍不高3． Quality of listed companies is generally not high 3. 利益誘惑4． Temptation 4. 監管不力、處罰不重三、規範上市公司信息披露的對策（壹）建立健全內部控制機制。 The lack of supervision, and severe penalties for not standardize information disclosure of listed companies Countermeasures (a) establish a sound internal control mechanisms.
（二）建立外部約束機制。 (B) the establishment of external restraint.