A股上市公司管理层讨论与分析数据

据《上市公司信息披露管理办法》，上市公司作为信息披露义务人，应真实、准确、及时、完整地向市场公开依法及自愿披露的信息。这些公开披露的信息包含但不仅限于公司基本情况、主要会计数据和财务指标、股东持股情况、高管薪酬情况等。上市公司信息披露是政府监管、投资者行为的重要依据，行之有效的行政监管与市场监督相结合，形成了促进证券市场平稳、有序发展的双轨效应。  CnOpenData推出A股上市公司管理层讨论与分析数据，包含了管理层讨论与分析基本信息表、经营讨论与分析内容表2张表，涵盖股票代码、年份、经营分析时间、正/负面词汇数量、句子数量、分析内容等。

According to the *Administrative Measures for Information Disclosure of Listed Companies*, listed companies, as information disclosure obligors, shall publicly disclose to the market truly, accurately, timely and completely the information required by laws and voluntarily disclosed. This publicly disclosed information covers, but is not limited to, basic corporate information, key accounting data and financial indicators, shareholders' shareholding status, executive compensation status, and other relevant contents. Information disclosure by listed companies is an important basis for government supervision and investor behavior. The combination of effective administrative supervision and market supervision has formed a dual-track effect that promotes the stable and orderly development of the securities market. CnOpenData has launched the Management Discussion and Analysis (MD&A) dataset for A-share listed companies. This dataset includes two tables: the Basic Information Table of Management Discussion and Analysis and the Content Table of Business Discussion and Analysis, covering stock codes, reporting years, business analysis time, the number of positive/negative words, the number of sentences, analysis content, and other related fields.

搜集汇总

背景与挑战

背景概述

该数据集系统整理了2001年至2024年A股上市公司年报中的'管理层讨论与分析'（MD&A）文本内容，具有长周期覆盖和前瞻性强的特点。数据集以结构化指标（如正负面词汇数量、文本长度）与原始文本相结合的形式呈现，便于量化分析管理层对企业经营、风险及未来展望的阐述，适用于学术研究和投资决策支持。