产权性质、稳健会计政策与债务成本

Nature of Property Right,Prudent Accounting Policy and Debt Cost

会计稳健性是一种不对称的及时性,要求会计上对经济收益的确认在可验证性方面要比确认经济损失更为严格.运用实证方法分析我国上市公司的会计稳健性水平与债务成本的关系,并结合产权性质考察了上市公司会计稳健性水平与债务成本的关系,得到结论:上市公司会计稳健性水平的提高能够降低债务成本;与国有上市公司相比,非国有上市公司中会计稳健性和债务成本之间的负相关关系更加显著.

Accounting conservatism is a kind of asymmetric timeliness,which requires that the confirmation of economic income in accounting is stricter than that of economic loss in terms of verifiability.Using empirical methods to analyze the relationship between the accounting conservatism level and debt cost of listed companies in China,the paper investigates the relationship between the accounting conservatism level and debt cost of listed companies in combination with the nature of property rights.It is concluded that the improvement of accounting conservatism level of listed companies can reduce the debt cost.Compared with that in state-owned listed companies,the negative correlation between the accounting conservatism and debt cost in non-state-owned listed companies is more significant.