Corporate governance and cost of equity capital —— Research based on the transmission mechanism of earnings quality
With the data in 2006 of Chinese listed companies, by building a Gindex, we analyze the relationship of corporate governance and cost of equity capital, and then further study the transmission mechanism of earnings quality between corporate governance and cost of equity capital. Research consults indicate that earnings quality play a transmission role, specifically, corporate governance can affect the information disclosure action of managers, which will enhance the qualities of earnings information disclosure, then reduce the degree of asymmetry with investors and ultimately reduce the cost of equity capital.
Corporate governance Earningsquality Cost of equity capital Transmission mechanism
Gong Guangming Zhang Menghua Gong Xun
School of Business, Hunan UniversityChangsha, China School of Finance and Statistics, Hunan University Changsha, China
国际会议
广州
英文
1-5
2011-05-13（万方平台首次上网日期，不代表论文的发表时间）