会计准则改革、股票流动性与权益资本成本——来自中国A股上市公司的经验证据

Abstract

Abstract: The application of new accounting standards is one of the most important accounting reforms. What it brings to capital market is a main concern to accounting standard setters and users. For the first time, Chinese A-share listed companies are used to examine the capital market consequences of the accounting standards reform. Empirical evidence shows that the accounting standards reform significantly improves stock liquidity, reduces the cost of equity capital, and increases firm value.

Key words: accounting standards reform, liquidity, cost of equity capital

CLC Number:

F830.91

GAO Fang, FU Ren-hui. Accounting Standards Reform, Stock Liquidity and Cost of Equity Capital: Evidence from Chinese A-Share Listed Companies[J]. Chinese Journal of Management Science, 2012, (4): 27-36.

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Accounting Standards Reform, Stock Liquidity and Cost of Equity Capital: Evidence from Chinese A-Share Listed Companies

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