Information Disclosure and Cost of Equity: Evidence from Subsidy of New Energy Industry

摘要

This paper explores the impact of the level of information disclosure on the cost of equity for the subsidy policies of the new energy industry. We find the impact of government subsidy policies on information disclosure in the new energy industry, and further studies the correlation between information disclosure level and cost of equity. We provide evidence and explanations for the development of new energy industry and government subsidy policy. The empirical results show that information disclosure is negatively correlated with the cost of equity capital. Also, the results show that government subsidies have an impact on the level of information disclosure of new energy listed companies.