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ID:49823169
大小:10.32 MB
页数:73页
时间:2020-03-04
《上市公司信息披露对权益成本的影响研究——以深交所上市公司为例.pdf》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、浙江工商大学硕±论文上市公司信息披露对权益成本的影响研究—W深交所上市公司为例THERESEARCHONTHEEFFECTOFTHECOSTOFEQUC-ITYAPUTALBYTHEPUBLICTRADEDCOMPANY’SINFORMATIONmSCLOSURE—TAKETHECOMPANYONTHESHENZHENSTOCKEXCHANGEASANEXAMPLE'ABSTRACTInthemodemfinancialsysteminformationandcaitalhasb
2、ecome,p-marketscarceresourcesinthecapital.On化eonehandinvestorstake,informationasthebasicbasistomakedecisionson化eotherhandin;,-order化otrtaincapitaltheublictradedcompanyhastorovidemore,ppinformationtoattractinvestors.Foreinscholarsfocusontherel
3、ationshigpbetweencomaninformationandthecostofeuityearlieralwaysmorepyq,deeply.Their巧86狙油shows化at化eincreaseofcompanyinforaiation出sclosurewouldbehelp&l1:0decrease化ecostofequity.Furtherresearchshowsthecompanyinformationdisclosuremainlythrough田浙江工商
4、大学硕±论文上市公司信息披露对权益成本的影响研究—W深交所上市公司为例'afecting化ecompanysexpectedriskandstockliquidity1:0impacton化eCO巧ofeuity.Thedomesticresearchoninformationdisclosureand化eqcostofequitycapitalisrelativelybackward,andtherelevantempirical1estas打otdaunconclusionowev
5、erwith化e:lsohaetformeified.Hy,'consan-ttimrovementofChinasmuhilevelcaitalmarketsystem化0pp^rotectionforinvestorbecomemoreandmoreattentionand化6obviouspeu-qityfinancingpreferenceofpublictradedcompaniesmakeitmoret化t-urgenclarify也erelaionshibetweenubl
6、ictradecompanyppinformationdisclosureandthecostofequity.weanat-tr虹thisaerlyzed化esituaio凸offinancinfublicadedpp,gopcomaniesf-pirstlyandfound也epublictradedcompanieshaveobviousequityfinancingreferenceonthebasisoftheresearchathomeandp,abroadforKfe
7、rence.Wealsoestimated化6euityfinancinCO巧ofqg-ublictradedcomanieswhichlistedontheShenzhenstockexchangepp,underthecapitalassetpricingmodelCAPMandOJmodel.TheannualaveraeintheCAPMmodelis9.72%aswellas3.14%int
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