| In the case of asymmetric information, the public requires a variety of information to make decision. The public can be roughly divided into t two broad categories:the first is the capital market investors; the second is the depositors, under the help of banks, depositors can indirectly invert their money to the field of consumption and investment.Enterprises are the main customers of banks, in order to make reasonable decision, banks require more reliable information from enterprises. However, enterprises have the advantage of knowing the true situation of themselves, such as, cash flow;project investment and daily operation. Banks, as the outsiders, are difficult to get reliable and accurate information. So, how could the banks manage risks and funding sources? in order to solve this problem, it requires banks to reasonably distinguish and handle enterprises’ accounting information, audit information and information disclosure quality。As the independent third party, certified public accountant plays a crucial role to ensure that financial information is true and reliable. Therefore, the audit opinion issued by an independent third party audit can provide an important basis for bank loan decision. Secondly, the information disclosure quality of enterprises would be also very significant for banks to make investment decisions. Consider of bank loan is the main debt financing method, we regard bank loan interest is the measurement of debt cost. Thus, we could study the relationship between information disclosure and the cost debt.However, in the reality, how could the audit opinion affect the decision-making processes of bank loans, especially for bank loan interests? As we know, the high quality of corporate information disclosure could reduce the information asymmetry, but, can high quality of corporate information disclosure reduce debt costs? In order to solve the problems above, we focused on the co-relationship among audit opinion, information disclosure and bank loan interest, moreover, we studied the changes between audit opinion and information disclosure and bank loan interest under different situation of information disclosure quality.Following is the basic structure of the paper:The first chapter is the Introduction, including the research background, significance of the paper, the research methods, the basic framework and expected innovations.The second chapter is the literature review section, including domestic and foreign scholars on relationship of the audit opinion, information disclosure quality and bank loan interest rate. Each part of the literature review are summarized and categorized.The third chapter is the theoretical analysis and hypothesis, including the basic related concepts, such as Audit opinion, bank loan interest and information disclosure quality. In addition, I analyzed the relationship among them from the theoretical aspects, then, elicited three hypotheses in my paper.The fourth chapter is the research design section, including the explanation of variables, models, and design of research programs.Chapter Ⅴ is the empirical results, which are analyzed by using descriptive statistical analysis and model regression analysis, and some related economic significance are explained.Chapter Ⅵ is the final part of the paper, based on the theoretical and empirical analysis, the paper conclusions and policy recommendations are summarized, besides, the related contributions and limitations are listed in the end of the paper. |
