【摘要】 随着我国资本市场的不断发展,上市公司的内部控制信息披露和股权融资成本表现出重要的关系。委托代理理论、信息不对称理论、信号传递理论都说明了上市公司主动且详细地披露内控信息的上市公司,其发展潜力巨大。投资者预期风险和股票流动性是内控信息披露质量与股权融资成本的关系的间接因素,内控信息披露质量越高,投资者对未来预期的风险就越小,股权融资成本就越低,同时,内控信息披露质量越高,股票流动性就越高,从而可以降低股权融资成本。更多还原

【Abstract】 With the rapid development of our capital market, the internal control information disclosure and cost of capital equity of listed companies have been closely related. Principal- agency theory, information asymmetry theory and signaling theory have all demonstrated that listed companies will enjoy huge development potentials if they take the initiative to disclose their internal control information at great lengths. Investor expectation of risk and stock liquidity can, to some extent, affect the relationship between the two. The better the internal control information disclosure is, the lower the investor expectation of risk will be. In addition, the better internal control information disclosure can also speed up stock exchange and thus bring down the cost of capital equity.更多还原