财经理论与实践2016，Vol.37Issue(2)：74-79,6.
公司声誉、审计师声誉与权益资本成本基于中国民营上市公司的经验证据
Corporate Reputation,Auditor Reputation and the Cost of Equity Capital--An Empirical Analysis of Chinese Listed Private Companies
摘要
Abstract
By taking A-share listed private companies in Shanghai and Shenzhen Stock Ex-changes from 2009 to 2013 as research objects,this paper examines empirically the relation among the auditor reputation,the corporate reputation and the cost of equity capital.The results show that the auditor reputation and the corporate reputation respectively has significant negative cor-relation with the cost of company's equity capital by controlling other conditions.Besides,further study finds that as the corporate reputation is established gradually,the influence of the auditor reputation on the company's equity capital cost will be gradually weakened,in another word,the corporate reputation has a substitution effect on the auditor reputation.The findings expand the research of the auditor reputation and corporate reputation mechanism,and provide a valuable reference for the future corporate governance of private companies.关键词
公司声誉/审计师声誉/权益资本成本/民营公司Key words
corporate reputation/auditor reputation/cost of equity capital/private company分类
管理科学引用本文复制引用
张嘉兴,余冬根,刘艳春..公司声誉、审计师声誉与权益资本成本基于中国民营上市公司的经验证据[J].财经理论与实践,2016,37(2):74-79,6.基金项目
国家自然科学基金资助面上项目(71272189)、教育部人文社会科学研究规划基金(12YJA790193) （71272189）
