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Corporate Goodwill and Debt Financing Costs —Based on The Empirical Study of China's A-Share Listed Companies From 2008 To 2018

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DOI: 10.23977/EDMS2020.035

Author(s)

Huailing Xie, Feihang Li, and Yuning Wang

Corresponding Author

Huailing Xie

ABSTRACT

Huge goodwill brings risks to the capital market that cannot be ignored. Taking a-share listed companies excluding finance and insurance industry from 2008 to 2018 as samples, this paper finds that the ratio of goodwill to assets and impairment of goodwill will significantly increase the debt financing cost of enterprises, and audit opinions and corporate credit rating will play A significant regulating role. The research results of this paper enrich the research on the relationship between goodwill information and debt contract, and have enlightenment significance for the decision-making usefulness of goodwill information.

KEYWORDS

Goodwill information, Cost of debt capital, Audit opinions, Credit conditions

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