Internal Control Disclosure and Cost of Capital: An Empirical Study from Shanghai Stock Market in Fiscal Year of 2008

机译：内部控制披露和资本成本：来自上海证券交易所2008财年的实证研究

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This paper examined cost of capital reactions to management's evaluations of internal control and audit opinions on reports of internal control which based on samples of 2008 Chinese Shanghai Stock market, the results have shown that, those companies who disclosed positive internal control or clean audit opinions on reports of internal control will bear lower cost of capital, compared with the companies those who have shown negative actions on internal control disclosing or negative audit opinions on internal control reports after controlling for other independent variables. Overall, the result of our cross-sectional test is consistent with good internal control will be valued by capital market.

机译：本文以2008年中国上海股票市场样本为基础，考察了管理层对内部控制评价的审计报告的资本反应成本和内部控制报告的审计意见，结果表明，披露内部控制正面或对内部审计意见无误的公司。与那些在控制了其他自变量之后对内部控制披露采取负面行动或对内部控制报告采取负面审计意见的公司相比，内部控制报告将承担较低的资金成本。总体而言，我们的横截面测试结果与良好的内部控制一致，并将被资本市场重视。

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《2011 International Conference on Business Computing and Global Informatization》|2011年|p.28-31|共4页
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Xiaolan Zhang; Haojie Shen;
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中图分类自动信息理论;
关键词
cost of capital; disclosure of internal control; eraning quality; information risk;

机译：资金成本;内部控制的披露;盈利质量;信息风险;

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Internal Control Disclosure and Cost of Capital: An Empirical Study from Shanghai Stock Market in Fiscal Year of 2008

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