其他综合收益列报影响股权资本成本吗——基于损益与风险双重视角的检验  

Does other Comprehensive Income Presentation Affect the Cost of Equity Capital——A Research from the Perspectives of Income and Risk

作　　者：顾水彬[1,2] 陈露[1] 

机构地区：[1]江苏大学财经学院,江苏镇江212013 [2]东北财经大学中德管理控制研究中心,辽宁大连116025

出　　处：《山西财经大学学报》2017年第5期111-124,共14页Journal of Shanxi University of Finance and Economics

基　　金：国家自然科学基金项目(71372068);教育部人文社会科学研究规划基金项目(13YJA790151);江苏省高校哲学人文社会科学基金项目(2014SJD501);江苏大学高级人才专项资助基金项目(16JDG001)

摘　　要：以2010-2015年我国A股上市公司为样本,采用静态(原值)与动态(差分)相结合的方法,研究了其他综合收益对企业股权资本成本的影响。研究发现:与其他综合亏损企业相比,其他综合收益企业的股权资本成本更低;当其他综合收益增长时,股权资本成本会同期下降;其他综合收益波动越大,股权资本成本就越高。这一结果证实了其他综合收益列报在股权资本成本定价决策中具有有用性,为探究发展中国家强制列报其他综合收益是形式有效还是实质有用提供了经验证据。Taking A share listed companies in China during 2010-2015 as sample, this paper studies the impact of other compre- hensive income on the cost of equity capital with the method of combining the static （original） and dynamic （difference）. We found that other comprehensive income finns generally have lower cost of equity capital than other comprehensive loss firm, when other com- perhensive income increasing, the cost of equity capital will decline over the same period, and other comprehensive income fluctuation is larger, the cost of equity capital is higher, which confirms the other comprehensive income report useful in cost the pricing of equity capital. This study provides empirical evidence to explore whether the other countries are forced to report other comprehensive income in the form of effective or substantial.

关 键 词：其他综合收益 股权资本成本 企业会计准则 国际财务报告准则 

分 类 号：F234.4[经济管理—会计学]