Does Big Creditor Pay Attention To The Quality Of The Accounting Information?

In recent years, the frequency and percentage of financial restatement of the listed company rise year by year. The financial restatement showed the credibility of the financial report was reduced, and then What will be the economic consequences of financial restatement? Will increase the cost of debt capital of listed companies?This paper is made on the basis of generalizing relevant literature, analysis of development of system background and the current situation. The reseach takes the2007to2010a-share listed companies which did financial restatement and "major accounting errors correction" of as the research object, inspecting the change after financial restatements in the type of loan, loan interest rate, debt maturity structure. The empirical results show that the bigger the scale of listed company, its credit loan proportion is larger, the loan interest rate is lower, the proportion of long-term loans is greater. Big creditors will give full consideration to the listed company’s financial leverage in the loan agreement.However,the big creditors did not pay attention to the financial restatement of listed companie. On one hand,this may show that banks were not attracted to accounting information’s quality and their examination and approval is not strict, increased the risk of loans;on the other hand, the listed company information disclosure in the financial restatement is not completely according to the regulations of the system, and financial restatements information disclosure system is not perfect.