辽宁省交通高等专科学校学报
遼寧省交通高等專科學校學報
요녕성교통고등전과학교학보
JOURNAL OF LIAONING PROVINCIAL COLLEGE OF COMMUNICATIONS
2015年
3期
37-41
,共5页
社会责任信息披露质量%权益资本成本%债务资本成本%影响差异
社會責任信息披露質量%權益資本成本%債務資本成本%影響差異
사회책임신식피로질량%권익자본성본%채무자본성본%영향차이
the quality of social responsibility information disclosure%cost of equity capital%cost of debt capital%impact difference
近年来随着社会责任信息披露的发展，其所发挥的作用越来越大。以2009-2011年披露企业社会责任报告的上市公司为样本，实证检验社会责任信息披露质量对权益和债务资本成本的影响及其差异。实证结果表明上市公司社会责任信息披露质量与权益资本成本和债务资本成本成负相关关系；企业社会责任信息披露质量对债务资本成本的影响要小于其对权益资本成本的影响。最后基于得出的结论为企业和监管者提出了几条建议。
近年來隨著社會責任信息披露的髮展，其所髮揮的作用越來越大。以2009-2011年披露企業社會責任報告的上市公司為樣本，實證檢驗社會責任信息披露質量對權益和債務資本成本的影響及其差異。實證結果錶明上市公司社會責任信息披露質量與權益資本成本和債務資本成本成負相關關繫；企業社會責任信息披露質量對債務資本成本的影響要小于其對權益資本成本的影響。最後基于得齣的結論為企業和鑑管者提齣瞭幾條建議。
근년래수착사회책임신식피로적발전，기소발휘적작용월래월대。이2009-2011년피로기업사회책임보고적상시공사위양본，실증검험사회책임신식피로질량대권익화채무자본성본적영향급기차이。실증결과표명상시공사사회책임신식피로질량여권익자본성본화채무자본성본성부상관관계；기업사회책임신식피로질량대채무자본성본적영향요소우기대권익자본성본적영향。최후기우득출적결론위기업화감관자제출료궤조건의。
〔Abstract〕 Recently as the development of social responsibility information disclosure, it plays a more important role. Using a sample of the listed companies which disclosed social responsibility reports from 2009 to 2011, this article makes empirical test on the influence and difference of social responsibility information disclosure quality on the cost of equity and debt capital. The result shows as follows: higher quality of social responsibility information disclosure will reduce the cost of equity and debt capital;Moreover, the impact of social responsibility information disclosure on the cost of equity capital is significantly stronger than that on the cost of debt capital. At last based on the above conclusions, it gives suggestions for enterprises and regulators.
