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在我国内控披露制度不断改善的背景下,装备制造业企业内部控制缺陷披露对其资本成本的影响,是装备制造业行业所关注的课题之一。根据内部控制缺陷披露,以及内部控制缺陷程度所带来的权益资本成本变化的分析,并利用沪深两市主板装备制造业上市公司的相关数据进行实证检验,结果表明:装备制造业上市公司披露内控缺陷,会显著提高其权益成本;装备制造业上市公司内控缺陷程度越深,其权益成本的影响越严重,但效果并不显著。
Under the background of the continuous improvement of the system of disclosure of internal control in China, the disclosure of internal control defects in equipment manufacturing enterprises has an impact on the cost of capital, which is one of the topics of concern to the equipment manufacturing industry. Based on the analysis of the changes in the cost of equity capital brought by the disclosure of internal control defects and the degree of internal control deficiencies, the paper uses the data of listed companies in Shanghai and Shenzhen stock market to conduct empirical tests. The results show that the disclosure of equipment manufacturing listed companies Internal control defects, will significantly increase the cost of their rights and interests; equipment manufacturing listed companies, the deeper the degree of internal control defects, the more serious the impact of their cost of equity, but the effect is not significant.