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Accounting Conservatism and Cost of Equity Capital — Evidence from China Xiang Fu1, *,Shiping liu2 1 School of Economic and Management, Nanjing University of Science and Technology, Nanjing, China 2School of Economic and Management, Nanjing University of Science and Technology, Nanjing, China *flyxiangfly@qq.com Abstract: This article investigates the relationship between accounting conservatism and the cost of equity capital. Based on a sample of Chinese listed enterprises on Shenzhen and Shanghai Stock Exchange from 2011 to 2015, we find that accounting conservatism generally exists in China's listed companies, and the higher the degree of accounting conservatism, the smaller the information risk faced by investors, and the required investment rate of return will be reduced, resulting in a lower cost of equity capital.

An Empirical Study on the Relationship between Accounting Conservatism and cost of equity capital --evidence from China