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  本文關(guān)鍵詞：制造行業(yè)會計信息質(zhì)量對股權(quán)融資成本的影響分析　出處：《西南交通大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 會計信息質(zhì)量 股權(quán)融資成本 可靠性 穩(wěn)健性 市場化程度 所有制形式

【摘要】：企業(yè)要發(fā)展就必須獲得滿足其需求的資金,一旦資金鏈斷裂,企業(yè)的投資、生產(chǎn)等行為則難以為繼。僅僅依靠內(nèi)部資金難以滿足發(fā)展需要,從外部獲得融資已經(jīng)成為企業(yè)的必然選擇,而在眾多的融資渠道中,股權(quán)融資已經(jīng)成為眾多企業(yè)傾向于選擇的重要方式。投資者只有對企業(yè)的價值進(jìn)行評估,對企業(yè)的盈利能力、發(fā)展前景加以了解、判斷才能夠真正的進(jìn)行理性投資,并且獲得適當(dāng)收益。實現(xiàn)上述目標(biāo)的一個重要前提就是企業(yè)將內(nèi)部的相關(guān)信息及時對外披露。只有企業(yè)對外披露的會計信息具有較高的質(zhì)量,能夠滿足投資者的使用需要,才能夠吸引投資者的注意,為企業(yè)帶來投資、降低企業(yè)融資成本。本文主要包括理論分析與實證研究兩方面內(nèi)容,其中理論分析包括歸納梳理過去學(xué)者展開的相關(guān)研究、介紹相關(guān)的理論;實證研究包括樣本選取、模型設(shè)計以及最后的實證分析。具體來說本文選用滬深A(yù)股制造行業(yè)的相關(guān)數(shù)據(jù)對會計信息質(zhì)量與股權(quán)融資成本之間的關(guān)系展開研究,探討二者之間的關(guān)系;在變量的設(shè)計上,本文運(yùn)用會計信息的穩(wěn)健性與可靠性兩個指標(biāo)共同衡量會計信息質(zhì)量;在此基礎(chǔ)上引入市場化程度與企業(yè)所有制形式兩個特殊因素,研究不同背景下會計信息質(zhì)量與股權(quán)融資成本之間關(guān)系的變動情況,通過實證研究最終得出結(jié)論認(rèn)為會計信息質(zhì)量與股權(quán)融資成本之間呈現(xiàn)負(fù)相關(guān)關(guān)系并且企業(yè)的所有制形式、市場化程度能夠?qū)Χ咧g的關(guān)系產(chǎn)生影響。
[Abstract]:Enterprise development must satisfy its demand for funds, once the capital chain rupture, enterprise investment, production behavior is difficult to continue. Only rely on internal funds to meet the need of development, has become an inevitable choice for enterprises to obtain financing from outside, and in many of the financing channels, an important way of equity financing has become the tendency of many enterprises to choose. Only investors of the enterprise value assessment of enterprise profitability, development prospects to understand, judge can truly make rational investment, and get the appropriate benefits. To achieve these goals is an important prerequisite for enterprises and relevant information will be promptly disclosed. Only the internal external disclosure of corporate accounting the information is of high quality, investors can meet the use requirements, in order to attract the attention of investors, bring investment for enterprises to reduce prices The cost of financing industry. This paper mainly includes two aspects: theoretical analysis and empirical research, which includes the theoretical analysis research concludes the past scholars, introduces the related theory; empirical study including sample selection, model design and analysis of the empirical data. This paper selects the Shanghai and Shenzhen A shares of the research on the relationship between manufacturing industry between the quality of accounting information and the cost of equity financing, exploring the relationship between the two variables; in design, the robustness and reliability of the accounting information by using the two indicators to measure the quality of accounting information; on the basis of introducing the ownership form market-oriented and enterprise two special factors, the changes of the relationship between different backgrounds the accounting information quality and the cost of equity financing, through the empirical research concluded that the quality of accounting information and ownership There is a negative correlation between the cost of financing and the ownership form of the enterprise. The degree of marketization can affect the relationship between the two.

【學(xué)位授予單位】：西南交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F406.7;F425

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