中文摘要：

食品安全信息披露能否降低非系统风险、减少信息不对称、增加企业声誉,从而降低企业的权益资本成本？以2011年~2014年深沪证券交易所137家食品类上市公司为样本,实证分析我国上市公司食品质量安全信息披露对权益资本成本的影响,发现食品质量安全信息披露与权益资本成本显著负相关,且这种相关关系在国有产权性质企业和行业竞争程度高的企业更为显著。披露食品质量安全信息是企业的理性选择,政府的职责是基于风险视角合理配置资源以及创造优良的竞争环境,以促进企业披露高质量的食品安全信息。

英文摘要：

The paper tries to answer whether food safety information disclosure can reduce equity capital cost by restraining non-system risk,decreasing information asymmetry and promoting corporate reputation.The results show that food quality and safety information disclosure is negatively correlated to equity capital cost. Moreover,this correlation is more significant in the state-owned enterprises and the enterprises with high level of competition. So it is the rational choice for enterprises to disclose food quality and safety information,and it is the government’s responsibility to promote enterprises to disclose high quality food safety information by allocating resources reasonably based on risk perspective and creating a competitive environment.