题 目：How Does XBRL Affect the Cost of Equity Capital? Evidence from an Emerging Market
主讲人：陈宋生（会计系）
时 间：2013年10月14 日（星期二） 中午12:00-13:00
地 点：主楼418会议室
主讲人简介：
   陈宋生，12BET管理与经济学院会计系主任、教授、博士生导师。北京大学光华12BET工商管理（会计学）博士后，中国人民大学会计学博士，德国德国卡尔斯鲁厄大学高级访问学者。财政部全国会计学术类（后备）领军人才，北京市优秀人才，中国审计学会教育分会副秘书长，《中国会计评论》、《中国审计评论》理事。承担过国家自然基金、国家社科基金、教育部博士点、教育部人文社科等十余项课题，在《会计研究》、《审计研究》等刊物发表过多篇论文。主要研究兴趣为会计信息披露与盈余质量、审计质量与经济后果、会计信息可读性等。
内容简介：
    Applying the path analysis, we examine whether and how eXtensible Business Reporting Language (XBRL) in China affects the cost of equity capital. Using a one-group pre- and post-test design, we find that XBRL reduces the cost of equity capital and contributes to higher strength of direct linkage between financial reporting quality and cost of equity capital but not the indirect linkage that is mediated by information asymmetry. Our further analysis also show that XBRL adoption leads to a greater reduction in the cost of equity capital, when there is a high level of corporate governance. Our study contributes to research on XBRL and to practice by documenting how XBRL affects the cost of equity capital.