中文摘要：

稳健性会计作为重要的公司治理机构，能够降低债权人和债务人之间的信息不对称程度。结合我国上市公司的产权特征，基于债务融资成本的角度，考察会计稳健性的经济后果发现，稳健的会计信息与更低的债务融资成本相关，而国有产权的性质削弱了会计稳健性与债务融资成本之间的负相关性。

英文摘要：

The accounting conservatism as an important corporate governance mechanism, which can reduce the degree of asymmetric information between creditors and debtors. Combining the property rights characteristics of China＇s listed companies, based on the perspective of debt financing cost, the paper investigates the economic consequences of accounting conservatism. The study finds that the conservative accounting information is associated with lower cost of debt financing, and the nature of the state-owned property weakens the negative correlation between accounting conservatism and the cost of debt financing.