The Impact of Social Responsibility Information Disclosure on Firm Financing Cost——Empirical Evidence Based on Listed Companies in China

Abstract

Abstract: Based on the angle of corporate finance and the background of social responsibility information disclosure in our country 1 this paper first discusses the four influence paths of social responsibility information disclosure on corporate finance. Then 1 use the information of Listed companies from 2014 to 20151proved that corporate social responsibility information disclosure can reduce the cost of equity capital and the cost of debt capital 1 the higher the quality of its social responsibility information disclosure 1 the lower the cost of these two capital. What's more 1 as the same quality level of social responsibility information disclosure 1 the impact on the cost of equity capital is greater than the cost of debt capital.

Key words: CSR, cost of equity capital, cost of debt capital

CLC Number:

F230

ZHAO Liang-yu, RUAN Xin-yi, LIU Fen-fen. The Impact of Social Responsibility Information Disclosure on Firm Financing Cost——Empirical Evidence Based on Listed Companies in China[J]. , 2017(06): 40-52.

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