会计信息信息披露和资金成本外文翻译.doc

外文文献翻译 原文: Accounting Information,Disclosure, and the Cost of Capital 1. Introduction The link between accounting information and the cost of capital of firms is one of the mostfundamental issues in accounting. Standard setters frequently refer to it. For example, Arthur Levitt, the former chairman of the Securities and Exchange Commission SEC, suggests that “high quality accounting standards reduce capital costs” Levitt [1998, p. 81]. Similarly, Neel Foster, a former member of the Financial Accounting Standards Board FASB, claims that “More information always equates to less uncertainty, a