以2001-2017年来自沪、深两市的A股上市公司作为研究样本，以负偏度系数（ncskew）和涨跌波动比（duvol）这两个指标衡量股价崩盘风险，分别从会计信息维度（opacity，会计信息透明度）、市场信息维度（synch，股价异质性）和综合信息维度（score，深交所信息考评）衡量企业的信息透明度，我们研究了信息透明度对上市公司的股价崩盘风险可能产生的影响。研究结论显示，无论是从哪个维度来看，信息透明度越低的上市公司，其股价崩盘风险就越大。本研究从多个维度反映了个股崩盘这一极端事件的成因，对我国股市暴跌背后更为深入内在的原因进行了补充拓展。在一定程度上，可以为我国股市信息披露制度的制定提供参考，对进一步规范企业的信息披露行为也能起到一定的引导作用。

Taken 2001-2017 A-share listed companies from Shanghai and Shenzhen exchange markets as our sample, the research on the relationship between multidimensional information transparency and stock price crash risk is conducted. To measure stock price crash risk, we use negative skewness coefficient (ncskew) and price fluctuation ratio (duvol) respectively. To measure enterprise information transparency from different dimensions, we use the accounting information (opacity), market information (synch) and the comprehensive information (score). Our results show that no matter from which dimension, the lower the transparency of information, the greater the risk of stock price crash. This study reflects the causes of this extreme event from multiple dimensions and makes a supplement and expansion for the deeper and internal reasons behind China's stock market crash. To a certain extent, it can provide reference for the establishment of information disclosure system of China's stock market and play a guiding role in further standardizing the information disclosure behavior of enterprises.