Abstract
There is growing social demand for the public disclosure of corporate information, especially in regard to the much discussed problems of “keiretsu” business, compensation for security investment loss, product liability, and various other issues. Generally, it is desirable to have corporate information disclosed. However, the various aspects of the quality of information (i. e. preciseness, verifiability, completeness, timeliness and relevance) must be examined. These aspects are inter-related and are sometimes in a trade-off relationship. In addition, corporate information is an effective means of gaining competitive advantage and is costly to obtain and to provide. Therefore, social consensusand deep insight are necessary in the areas of legal regulation, incentive systems for disclosure, and corporate social responsibility.
