Study on the Factors Affecting Disclosure of Profit Forecasts of IPO Companies —Based on Structural Equation Model

With the change of disclosure methods, the proportion of IPO companies disclosing the profits forecast information declines year by year. Empirical study was conducted on the disclosure of profit forecasts of 683 listed companies with initial public offering of A shares in 2007～2011. Based on the evaluation indicator system that build independently, this paper reports that the disclosure of a listed company's profit forecasts, to some extent, will be affected by the company's financial position, corporate governance structure and external factors, presenting obvious positive correlation by using the structural equation model.