問19
頻出度★★★
企業の経営状況を外部に公開することを何というか。
平成22年度 春期 ITパスポート試験 問19
ストラテジ系企業活動 › 経営・組織論
This question's explanation and your answers so far.
解説
問 19
Incorrectア
Stock listing (IPO) means putting the company's own shares, which until then were held only by particular shareholders, into a state where general investors can acquire and trade them; it usually involves listing on a stock exchange (IPO). It is a measure concerning fund-raising and shareholder composition, not a term for the act of releasing information about the management status to outsiders. Going public does bring disclosure obligations with it, but it is not the name of the act of “making public” that the question asks about.
Incorrectイ
A corporate rating is produced when a rating agency examines a company's creditworthiness (its ability to repay borrowings and corporate bonds), evaluates it with symbols such as AAA or BBB, and publishes the result. The party that performs and announces the evaluation is an outside third-party agency, so this is not the act of a company itself releasing its own management status. Disclosed financial information does serve as material for ratings, but the two differ in both standpoint and purpose.
Incorrectウ
Compliance is translated as observance of laws and regulations, and it refers to a company conducting its activities while obeying laws, social norms, and corporate ethics. Fulfilling disclosure obligations can be part of compliance in some situations, but the meaning of the word itself is “to observe,” not “to release the management status to external parties,” so it is not the answer to this question.
- エ
正解 Choice エ, “Disclosure,” means a company making information such as its own management status and financial details public to external stakeholders such as shareholders, investors, and business partners. The phrase in the question, “disclosing the management status to external parties,” describes exactly this act of releasing information, so エ is correct. Japan's disclosure system is organized into statutory disclosure, such as securities reports under the Financial Instruments and Exchange Act and financial statements under the Companies Act; timely disclosure under stock exchange rules (such as earnings summaries); and voluntary disclosure that companies carry out on their own initiative (such as IR materials). Disclosure is the umbrella concept covering all of these, and its purpose is to reduce information asymmetry so that investors can make appropriate judgments.
ここがポイント
- Disclosure means a company releasing its management and financial information to external stakeholders such as shareholders and investors. It can be organized into statutory disclosure under the Financial Instruments and Exchange Act and the Companies Act (securities reports, financial statements, etc.), timely disclosure under stock exchange rules (earnings summaries, etc.), and voluntary disclosure that a company decides to make on its own (IR).
- The question asks you to distinguish similar business terms: stock listing (IPO) makes shares tradable by general investors, a corporate rating is a third-party agency's evaluation of creditworthiness, and compliance means observing laws and regulations. None of them is a term for the act of releasing information itself.
用語