Abstract
This paper has researched that the public information which is based on the trusting of market participator effect on the investment return. The more trustable of public information in market, the cost of capital of listed company, in other words, the investment return of capital market investor would be reduced. Based on data of China's stock market, the study have shown that the number of information disclosure by listed company, and the trust of market participants to the system of information disclosure, has significant effecting on cost of capital. But the evidence of disclosure timeliness effecting on cost of capital, in this paper, has not be founded.
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