Research on internal control,commercial credit and debt cost

doi:10.14088/j.cnki.issn0439-8114.2019.11.035

Abstract

Abstract: According to the information asymmetry theory and contract cost theory, the data of China A-share listed companies from 2004 to 2015 is taken as a research sample, and the impact of commercial credit on debt cost and internal control on the relationship between them is empirically tested. The results show that the corporate commercial credit has a significant positive correlation with the debt cost incurred in order to obtain funds from the fund supply side; the effective internal control of the enterprise has a weakening effect on the positive correlation between the commercial credit and the debt cost. Therefore, enterprises with capital needs can achieve the purpose of reducing debt costs by reasonably controlling their own commercial credit levels. When commercial credit cannot be reduced, they can also use the effective internal control of enterprises to achieve mitigation effects.

Key words: commercial credit, debt cost, internal control

CLC Number:

F270

NIE Zhi-ping, WU Meng-zhi. Research on internal control,commercial credit and debt cost[J]. HUBEI AGRICULTURAL SCIENCES, 2019, 58(11): 144-149.

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